The local market closed lower yesterday as some analysts suggest that with the interest rate hiking cycle just beginning markets will be under pressure and heading lower for some time.
The weekly chart shows a possible bearish flag pattern forming which could see recent lows tested.
Lithium mining companies are all off significantly in morning trade.
The price of gold is also under pressure and we sold out of Resolute today.
We sold half of the GGUS ETF today after price gapped up on Monday and as yet has failed to follow through.
The four-hour chart of GGUS shows the reasoning behind our recent purchase with a nice W bottom and a trendline break.
Xero had a nice spike lower.
Pointsbet Holdings has moved above the downtrend line and could be starting to form a bottoming pattern.
Dominoes looks like it could be forming a bottoming pattern.
Whitehaven Coal has been holding up well with some analysts suggesting this year will be a bumper for earnings.
The Nasdaq index looks to have bounced off the midline for now.
Table
Security | Units bought (sold) | Date | Open price/ From last table | Current/close | $ gain/loss |
Bought Whitehaven Coal c/f at $2.76 | Bought 700 at $2.70 | 23/12/2021 | $5.20 | $5.28 | +$56.00 |
Bought Brainchip Holdings | Bought 500 at 85c | 5/1/2022 | $1.15 | $1.12 | -$15.00
|
Bought Computershare | Bought 120 at $20.50 | 5/1/2022 | $23.91 | $23.13 | -$93.60 |
Bought Red5
| Bought 3,000 at 29.5c | 9/2/2022 | 38 | 39c | +$30.00 |
Bought CSL
| Bought 12 at $260.00 | 16/2/2022 | $274.00 | $271.00 | -$36.00 |
Bought Syrah
| Bought 1,000 at $1.40 | 2/3/22 | $1.82 | $1.84 | +20.00 |
Bought St Barbara
| Bought 2,000 at $1.52 | 8/3/2022 | $1.22 | $1.27 | +$100.00 |
Bought Resolute
| Bought 8,000 at 36c | 13/4/2022 | 31c | 27c | -$320.00 |
Bought Judo
| Bought 1,000 at $1.70 | 20/4/2022 | $1.75 | $1.78 | +$30.00 |
Bought Flight Centre
| Bought 100 at $21.80 | 20/4/2022 | $20.11 | $20.50 | +$39.00 |
Bought NDQ ETF
| Bought 50 at $29.00 | 27/4/2022 | $26.62 | $28.23 | +$80.50 |
Bought Endeavour
| Bought 250 at $7.76 | 27/4/2022 | $7.52 | $7.26 | -$65.00 |
Bought Stavely
| Bought 6000 at 40c | 27/4/2022 | 35c | 32c | -$180.00 |
Bought Kelsian
| Bought 300 at $7.90 | 4/5/2022 | $7.50 | $7.53 | +$9.00 |
Bought Brainchip
| Bought 2,000 at $1.00 | 5/5/2022 | $1.15 | $1.12 | -$60.00 |
Bought BBUS ETF
| Bought 150 at $9.70 | 5/5/2022 | $11.88 | Sold 27/5 at $11.08 | -$150.00
|
Bought GGUS
| Bought 100 at $25.20 | 13/5/2022 | $24.67 | $28.60 | +$393.00 |
Bought Magellan
| Bought 150 at $15.60 | 13/5/2022 | $14.70 | $15.68 | +$147.00 |
Bought Whitehaven
| Bought 400 at $5.10 | 17/5/2022 | $5.20 | $5.28 | +$32.00 |
Bought Lynas
| Bought 300 at $9.20 | 17/5/2022 | $9.54 | $9.85 | +$93.00 |
Bought GGUS
| Bought 200 at $26.50 | 27/5/2022 | $26.50 | $28.60 | +$420.00 |
Bought Xero
| Bought 30 at $87.50 | 27/5/2022 | $87.50 | $89.29 | +$53.70 |
|
|
|
|
|
|
Start 2/1/2022 $50,000.00 | Open balance $57,104.38 |
| |
| $57,104.38 |
| Gains/losses week +$583.60 |
|
|
| +$583.60 |
| Current total $57,687.98 |
|
|
| $57,687.98 |
Brokerage at $30 per round turn added when sold. | Buy/ close prices and Margin $52,251.30 |
|
|
| $52,251.30 |
Prices from Tuesday night or 6am for US positions. | Cash available $14,785.00 |
|
|
| $14,785.00
|
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.
To order photos from this page click here
