ANZ is the first of the big 4 to report and the result was fractionally disappointing to leave the share lower by about 1%. The rest of the sector is a touch weaker too and that has taken the top off the market with the Asx 200 up 6 at 4436 despite good overnight leads.
I've joined in the bank (or other financial) bashing with a short term trade in CGF. After a grinding rally, price dropped below yesterday's low for the first time in a while. I'm short at 396 and will get out on any renewed strength.
After a long period of tedium, IPL has shaken off the cobwebs. I was disbelieving yesterday and didn't take the opportunity to pre-empt a breakout. However, I've bought at 333 today and the stock has confirmed with trades above that level. It's at 336 at the moment.
My longs are muted except for MSB which is up 21 at 771. I sold a portion at 770. The short positions are better. Out of NWH at 398 and 394 and covered a few AGO at 274. OST is up 1 but stalling around recent highs and I'm waiting to see if I can stay short.
I also shorted BLY at 420; I'm looking for another completed retracement there. I'll just use a trailing stop above today's high.
4.17 The market meandered to a mildly firmer finish, up 6 at 4436. I sold out of half of the RSG long at 170.
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