The rising tide of a relief rally is lifting most of the market. The index has pushed steadily all day. At first, the speccy longs did best but then the larger cap shorts started to rally more strongly so that I'm slightly down thanks to QBE and WBC despite having done well in ASL, AGO, IMD, NWH etc.
I've been selling out of the smaller cap longs but I've also covered a couple of shorts in ALL and JHX. I'll be net short overnight because I don't want to fight a strong downtrend although there's certainly more scope for a retracement rally.
I've added a new short in RSG at 149. It was looking pretty weak but has just perked up. I'm hoping for a resumption of the sell off.
4.14 It was a grinding rally with some minor selling into the match. Up 47 to 4121.
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