The local market continues the sideways congestion and we were stopped out of the ASX200 cfd position with a small loss. The banking sector looks to be putting a dampener on overall market gains.

The Dow Jones Industrial Index has poked up to a new high and we bought a mini futures contract. This index looks stronger than the ASX 200 and has a strong seasonal trend for this time of year.

The price of gold has again had a down day where price has moved more than 1.5 per cent lower and is yet to puncture the spike low.

The banking index shows prices are up from the lows and have run into trend line resistance and looks to be making a triple top pattern. The current triangular congestion pattern spells danger and if prices break lower, we could see a decent fall.

On the positive side Westpac closed near the top of yesterday’s range after announcing a $2.5 billion capital raising.

Macquarie Bank shows a much stronger trend than the big four.

A few fund managers look to be making a move higher including Pinnacle.

Polynovo has run well after a previous spike down. Will history repeat?

Platinum Asset Management had a nice move up out of congestion yesterday. Fellow fund manager Magellan is also forming an interesting pattern.

Audinate has moved up from the congestion and could run further and offers some nice trade possibilities.

Table

Security

Units bought (sold)

Date

Open price/

From last table

Current/close

$ gain/loss

buy CSL

3/12/18 $183

c/f 9/1 at $192.31

Bought 15 at $192.31

9/1/2019

$256.86

$260.75

+$58.35

Bought Westgold

Bought 1,000 at $1.03

7/2/2019

$2.21

$2.46

+$250.00

Bought Cooper Energy

Bought 5,000 at 53

18/4/2018

57c

57.5c

+$25.00

Bought Qube

Bought 1,000 at $3.04

26/6/2019

$3.30

$3.30

Steady

Bought Ecofibre

Bought 1,000 at $2.80

18/7/2019

$3.16

$3.48

+$320.00

Bought Western Areas

Bought 800 at

$2.26

8/8/2019

$3.41

$3.12

 

-$232.00

Bought IPH

 

Bought 400 at $8.55

19/8/2019

$8.10

$7.99

-$44.00

Bought Capitol Health

Bought 10,000 at 24c

28/8/2019

24c

24.5 c

+$50.00

Bought NextDC

Bought 400 at $6.55

28/8/2019

$6.44

$6.45

+$4.00

Buy Reliance Worldwide

Bought 800 at $3.70

28/8/2019

$4.17

$4.20

+$24.00

Bought Eclipse

Bought 1,500 at $1.55

4/9/2019

$1.66

$1.73

+$105.00

Buy Lifestyle

Communities

Bought 300 at $7.20

4/9/2019

$8.09

$8.40

+$93.00

​​ Whitehaven Coal

Bought 800 at $3.50

11/9/2019

$3.44

$3.40

-$32.00

Bought Santos

 

Bought 350 at $7.80

16/9/2019

$8.19

$8.15

-$14.00

Bought Kogan

Bought 250 at $6.25

25/9/2019

$6.82

$7.08

+$65.00

Buy Wagners

Bought 1,500 at​​ 

$1.75

16/10/2019

$1.79

$1.86

+$105.00

Buy Technology One

Bought 400 at $7.45

24/10/2019

$7.52

$7.42

-$40.00

Buy ASX 200

Cfd’s

Bought 10 at 6,700

24/10/2019

6,745

Stopped 31/10

At 6,690

-$580.00

Bought Silverlake

Bought 2,500 at $1.10

30/10/2019

$1.10

$1.17

+$400.00

Bought Orocobre

 

Bought 1,000 at $2.64

1/11/2019

$2.64

$2.71

+$70.00

Bought e-mini Dow

 

Bought 1 at 27,350

4/11/2019

27,350

27,420

+$350.00

Start 7/1/2019

$50,000.00

Open balance

$72,077.50

 

 

 

$72,077.50

 

Gains/losses week

+$977.35

 

 

 

 

+$977.35

 

Current total

$73,054.85

 

 

 

$73,054.85

Brokerage at

$30 per round turn added when sold.

Less buy/ close prices and Margin

$64,090.75

 

 

 

$64,090.75

Prices ​​ from​​ 

Tuesday’s close or 6am for US

Cash available

$8,964.10

 

 

 

$8,964.10

 

 

 

Disclaimer: The commentary and trading positions taken are for educational purposes only and are not an invitation to trade. Trading is risky and individuals should seek Professional counsel before making any financial decisions. Many thanks to Incredible Charts.com software for most of the charts used in the column.

Monitor, measure, manage and maximise… Cheers Charlie.