Thursday, May 3, 2012

Another doji?

At 2 pm, the Asx 200 is a smidgin higher and today is shaping up to be another doji bar on a daily chart. Despite that, there's a bit of action.

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The smaller resources and mining services sector has been weak. I've covered half of each short position in AGO at 266, ASL at 404 and BLY at 402. On the long side, RSG is doing well as is a small position I added before yesterday's close in ERA. I only bought 10k, thinking I could buy more on the open but it took off. Long at 165 and out of half at 176 with the stock up to 181.

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When I was short TOL, I noticed that the sell off was grudging and I punted some at 580 this morning after yesterday's positive close. The stock did nothing until half an hour ago when it popped 10 cents. I sold a couple there.

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I covered my NWH short yesterday even though the stock had broken down. However, I was short a bunch of things and my assistant was still short these. He's done well today as NWH has taken a beating.

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2.34 I'm having another go at Aristocrat. The company confirmed strong guidance yesterday and the stock had a run but then retraced sharply. After a touch of early weakness, it has gathered strength today. Long at 312 with a stop at 299.

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4.24 The index clung to breakeven but sold down a few points in the match to be off 7 at 4429. TOL wound back and I bought back the stock I'd sold at the original price of 580. Otherwise, the only weak spot was MSB which fell 20 to 751. I also bought extra here, at 754, having sold some yesterday.

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