The broad market is performing well given that European and US indices had weak sessions on Friday. Banks are the mainstay with ANZ the standout thanks to its unilateral rate rise owing to increased funding costs.
It's a simple situation for me. I have some calls in OSH and SUN which are gently decaying and also some puts in WPL which are performing today as the Thursday/Friday rally looks to have been a retracement. The stock is down 1.9% at 3410 compared to a 0.5% fall in the Asx 200.
I'd like to see the price fail to hold Wednesday's low because that could clear the way for an acceleration of the fall.
3.52 The top 200 index continues to do reasonably well with the loss trimmed to 19 points. A 30 minute chart suggests that there might be a swing up tomorrow. There has been a 3 wave pullback from Thursday's intraday high which looks to be over and now it could be setting up for a push to around 4240.
For the moment, WPL is not participating.
4.12 Not much change, with the Asx 200 closing at 4303, off 21.
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