The local market briefly moved above the early April high following on from strong markets overseas after the Eurozone announced a 500 billion Euro stimulus package and the news that two contenders for a coronavirus vaccine were having human trials.
A weekly longer-term chart of the local index shows the current rebound is within striking distance of the previous upwards trend line which could prove difficult to cross. Time will tell.
The price of gold briefly made a new yearly high after breaking out of a triangular consolidation pattern. The last 3 legs up have all lasted around 100 days before the next leg down began. This time the 100 days are up on June 24th.
An interesting possible trade set-up is forming on a few gold stocks including Evolution, Saracen and Ramelius Resources. Price has moved up past previous resistance to a new high. A retracement down towards the new support level could provide some interesting trade possibilities. Watching.
Aristocrat Leisure moved higher and we bought a parcel late yesterday.
OOH! Media keeps making higher lows and higher highs and pushed up again yesterday and we bought a parcel for the educational portfolio.
A few oils stocks are moving up including Santos.
Ardent Leisure is currently in a sideways pattern. Any opening up of interstate travel would benefit. A move above 40 cents could offer some interesting possibilities.
Western Areas has moved out of congestion in morning trade and could go for a run higher. ALS Ltd has also made a similar move today.
Table
Security | Units bought (sold) | Date | Open price/ From last table | Current/close | $ gain/loss |
Buy CSL 3/12/18 at $183 c/f 9/1 at $192.31 c/fwd 3/1 at $280 | Bought 10 at $192.31 9/1/2019 | 9/1/2019 | $307.61 | $303.01 | -$46.00 |
Bought Magellan Financial Group c/fwd 3/1 at $59.00 | Bought 40 at $57.50 18/12/2019 | 18/12/2019 | $54.03 | $55.60 | +$62.80 |
Bought VTS ETF
| Bought 10 at $195.87 | 24/3/2020 | $226.59 | $227.64 | +$10.50 |
Bought Evolution
| Bought 800 at $3.98 | 24/3/2020 | $5.50 | Sold 200 at $5.50 600 left at $6.08 | -$30.00 +$348.00 |
Bought Silverlake
| Bought 2,000 at $1.41 | 24/3/2020 | $2.00 | Sold 500 at $2.00 1,500 left at $2.15 | -$30.00 +$225.00 |
Bought Whitehaven Coal | Bought 1,200 at $2.00 | 31/3/2020 | $1.76 | $1.75 | -$12.00 |
Bought Magellan
| Bought 30 at $50.00 | 14/4/2020 | $54.03 | $55.60 | +$47.10 |
Bought Resolute Mining | Bought 2,500 at 98c | 14/4/2020 | 95 | $1.13 | +$450.00 |
Bought Jumbo Interactive | Bought 300 at $10.20 | 22/4/2020 | $12.84 | $11.93 | -$273.00 |
Bought Nickel Mines
| Bought 6,000 at 52.5c | 29/4/2020 | 57c | 56 | -$60.00 |
Bought CSR
| Bought 1,000 at $3.50 | 30/4/2020 | $3.72 | $3.71 | -$10.00 |
Bought GEAR ETF
| Bought 200 at $14.00 | 6/5/2020 | $14.34 | $15.31 | +$194.00 |
Bought Flight Centre
| Bought 150 at $10 | 6/5/2020 | $10.55 | $10.58 | +$4.50 |
Bought Flexigroup
| Bought 3,000 at 95c | 7/5/2020 | $1.05 | 96.5c | -$255.00 |
Bought Aristocrat Leisure | Bought 100 at $26.80 | 19/5/2020 | $26.80 | $26.80 | Steady |
Bought Ooh! Media
| Bought 2,800 at $1.14 | 19/5/2020 | $1.14 | $1.14 | Steady |
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|
|
|
|
|
Start 2/1/2020 $50,000.00 | Open balance $69,071.85 |
|
|
| $69,071.85 |
Stock c/fwd 3/1 $18,427.50 | Gains/losses week +$615.90 |
|
|
| +$615.90 |
| Current total $69,697.75 |
|
|
| $69,687.75 |
Brokerage at $30 per round turn added when sold. | Less buy/ close prices and Margin $45,497.50 |
|
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| $45,497.50 |
Prices from Tuesday’s close or 6am for US | Cash available $24,190.25 |
|
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| $24,190.25
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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.
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