The local market looks to be stuck in a sideways move for now and could be on the cusp of another bullish break similar to the one in early July. Watching.
The four-hourly chart puts the potential break upwards into a different perspective.
A nice screenshot of the Dow Jones breakout, retracement and consequent run higher.
Syrah has moved up out of the sideways pattern. An ABC type retracement could give traders a better entry point.
Whitehaven Coal is stuck in what could be a distribution topping type of pattern. Later today price moved below our small stop and we sold half of our total position. Watching carefully to exit when needed, perhaps tomorrow.
The weekly chart of Syrah showing potential price targets.
The Commonwealth Bank is trading in a sideways range for now. Some analysts suggest that as margins improve price will gain some traction.
Macquarie Group may have found a bottom around these levels.
Clinuvel is forming another consolidation pattern. Watching.
Credit Corp had a strong day after reaffirming previous guidance.
Domino’s broke the down trend line and is yet to move very far. Some analysts suggest pizza’s might make a comeback as entertainment budgets tighten.
The pic below shows that prior to the 1987 crash the markets had already come off the boil.
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 | $10.41 | $10.36 | -$15.00 |
Bought Computershare | Bought 120 at $20.50 | 5/1/2022 | $25.17 | $24.68 | -$58.80 |
Bought CSL
| Bought 12 at $260.00 | 16/2/2022 | $275.00 | $276.00 | +$12.00 |
Bought Brainchip
| Bought 2,000 at 80c | 16/6/2022 | 92c | 87c | -$100.00 |
Bought Aristocrat Leisure | Bought 100 at $35.60 | 6/7/2022 | $34.90 | $36.17 | +$127.00 |
Bought Whitehaven Coal | Bought 300 at $6.00 | 18/7/2022 | $10.41 | $10.36 | -$15.00 |
Bought Australian Vanadium | Bought 25,000 at 0.05 | 10/8/2022 | 0.03c | .03 | Steady |
Bought Stavely Minerals | Bought 10,000 at 18c | 10/8/2022 | 15c | 13c | -$200.0 |
Buy GEAR ETF
| Bought 200 at $20.20 | 4/10/2022 | $21.74 | $21.84 | +$20.00 |
Buy Red 5
| Bought 10,000 at 17c | 4/10/2022 | 15 | 15 | Steady |
Buy IDP Education
| Bought 100 at $28.50 | 5/10/2022 | $28.69 | $28.81 | +$12.00 |
Buy State Gas
| Bought 5,000 at 42c | 10/10/2022 | 33c | 41c | +$400.00 |
Buy Pinnacle Invest. Management | Bought 400 @ $8.76 | 14/10/2022 | $8.58 | $8.44 | -$56.00 |
Buy Life360
| Bought 500 at $6.00 | 18/10/2022 | $6.20 | $6.87 | +$335.00 |
Buy 6 ASX cfd’s
| Bought 6 at 6,756 | 18/10/2022 | 6,656 | Sold 3 7/10 6,700.00 3 left at 6,798.00 | +$102.00 +$426.00
|
Buy Aussie Broadband | Bought 1,000 at $2.25 | 19/10/2022 | $2.25 | $2.32 | +$70.00 |
Buy L1 Long-Short fund | Bought 1,000 at $2.47 | 19/10/2000 | $2.47 | $2.39 | -$80.00 |
Buy Domino’s Pizza
| Bought 40 at $60.74 | 19/10/2022 | $60.74 | $58.74 | -$80.00 |
|
|
|
|
|
|
Start 2/1/2022 $50,000.00 | Open balance $66,844.55 |
| |
| $66,844.55 |
| Gains/losses week +$899.20 |
|
|
| +$899.20 |
| Current total $67,743.75 |
|
|
| $67,743.75 |
Brokerage at $30 per round turn added when sold. | Buy/ close prices and Margin $49,104.40 |
|
|
| $49,104.40 |
Prices from Wednesday night or 6am for US positions. | Cash available $17,506.80 |
|
|
| $17,506.80
|
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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