On the hourly chart the ASX 200 index met with some resistance and fell down through two possible support levels and we took a speculative short position. We took profit on half the position at yesterday’s close. We aim to hold onto the remainder until our target or stop points are reached.
The daily chart shows resistance at the 61.8 Fibonacci level.
Having bought two positions to take advantage of any rally including the GGUS and Nasdaq ETF’s, we sold both Monday as markets faltered at a significant resistance zone.
A look at different resistance levels in the US S@P 500 index.
This table shows the monthly averages of the US market. September is traditionally a weak month. Another thing to note is the usually strong trend at the end of year.
There were five significant bear market rallies in the 2000 to 2002 downturn.
This chart shows the current trend for the price of gold.
The Australian gold index is at a similar level to October 2018 and yet the price of gold is around 40 per cent higher. A definite divergence.
The price of Magellan well down from the peak as hopes that a new executive team might restore some decent portfolio performances.
Pilbara Minerals reported a whopping increase in profit.
Table
Security | Units bought (sold) | Date | Open price/ From last table | Current/close | $ gain/loss |
Bought Whitehaven Coal c/f at $2.76 | Bought 300 at $2.70 | 23/12/2021 | $6.61 | $7.75 | +$342.00 |
Bought Computershare | Bought 120 at $20.50 | 5/1/2022 | $23.69 | $24.34 | +$78.00 |
Bought CSL
| Bought 12 at $260.00 | 16/2/2022 | $296.00 | $289.00 | -$84.00 |
Bought Brainchip
| Bought 2,000 at 80c | 16/6/2022 | $1.05 | 96c | -$180.00 |
Bought GGUS ETF
| Bought 100 at $24.00 | 27/6/2022 | $27.67 | Sold 22/8 $26.50 | -$147.00 |
Bought Clinuvel
| Bought 200 at $16.00 | 27/6/2022 | $20.05 | $18.34 | -$342.00 |
Bought Aristocrat Leisure | Bought 100 at $35.60 | 6/7/2022 | $36.32 | $34.93 | -$139.00 |
Bought Domino’s Pizza | Bought 40 at $72.00 | 6/7/2022 | $72.04 | $67.07 | -$198.80 |
Bought Life360
| Bought 800 at $3.50 | 6/7/2022 | $5.80 | Sold 300 at $5.50 500 left at $5.12 | -$120.00 -$340.00 |
Bought Nasdaq ETF
| Bought 100 at $27.00 | 7/7/2022 | $30.03 | Sold 22/8 $29.53 | -$80.00 |
Bought Pinnacle Investment mgmt. | Bought 300 at $8.20 | 13/7/2022 | $11.09 | $10.64 | -$135.00 |
Bought Whitehaven Coal | Bought 300 at $6.00 | 18/7/2022 | $6.61 | $7.75 | +$342.00 |
Bought Australian Vanadium | Bought 25,000 at 0.05 | 10/8/2022 | 0.053c | .04c | -$325.00 |
Bought Stavely Minerals | Bought 10,000 at 18c | 10/8/2022 | 17c | 16c | -$100.00 |
Sold ASX 200 cfd’s
| Sold 10 at 7,060 | 22/8/2022 | 7,060 | Sold 5 at 6,961 5 left at 6,961 | +$465.00 +$495.00 |
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|
|
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Start 2/1/2022 $50,000.00 | Open balance $63,053.85 |
| |
| $63,053.85 |
| Gains/losses week -$368.80 |
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| -$368.80 |
| Current total $62,685.05 |
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| $62,685.05 |
Brokerage at $30 per round turn added when sold. | Buy/ close prices and Margin $36,868.80 |
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| $36,868.80 |
Prices from Tuesday night or 6am for US positions. | Cash available $24,218.00 |
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| $24,218.00
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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.
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