The index can't recover and after a little early buying gave us a lift, the crushing reality of PMI figures from China and Europe have put the kybosh on any bounce in resources. On top of that, the banking sector is under pressure and the index is lower by 21 points at 2.44 pm.
It suits me although, once again, I don't have any big winners. That's partly because I've given up on shorting the resources and have been selling the better performers on the assumption that they will follow suit. I did have a couple of gold shorts too and they are the latest safe haven.
I bought back the RSG at 146.5 and went long a few there too. It looked reasonable earlier in the day but is fading now...not a big position though and I made a little on the short side.
I'm out of a few of the WBC puts at 176 (or 2024 equivalent in the stock) and the intraday low has been 2008. QBE has tested my patience all week but looks ready to resume the fall.
4.16 It wasn't a big day for me. I sold a couple more puts in WBC at 2008 equivalent and covered odds and ends elsewhere. The index close down 27 at 4029.
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