After hitting the 61.8 retracement zone from the June lows traders wonder if the current pullback will stall or a new low formed. The 50 per cent retracement level is also a horizontal support and resistance level. Time will tell.
The short cfd position we took in the ASX 200 was partially closed out well before US Federal Reserve chair Jerome Powell spoke at Jackson Hole. After the market rose substantially before that speech and nearly took out our stop we finally closed the position for slightly more profit than the original half. Not for the faint hearted. We see the possibility of another short trade in the next day or so closer to the resistance zone of 7,050 to 7,100 points.
This chart of the Nasdaq shows price once again retreated down from the trendline.
This chart from AMP shows that peak inflation may have already been reached.
We sold Pinnacle after it gapped down on Monday.
Rural Funds has had some 2-year periods in the past with gains of 30 per cent per year. How soon for the next one?
Mineral Resources jumped above previous highs after the latest update.
Medibank Private shows a similar jump above previous highs.
Dicker Data announced an equity raise for some expansion plans and could be a longer term buy at these levels.
Syrah looks to be in a sideways funk for now.
Boss Energy in a broad sideways pattern. Perhaps a buy at the lows with a tight stop.
Betmakers could be forming an ABC type pattern off the lows. Watching.
To the moon after midterm elections in the US. We will be amping up our market exposure for the December quarter given the right chart patterns.
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 | $7.75 | $8.06 | +$93.00 |
Bought Computershare | Bought 120 at $20.50 | 5/1/2022 | $24.34 | $24.69 | +$42.00 |
Bought CSL
| Bought 12 at $260.00 | 16/2/2022 | $289.00 | $294.00 | +$60.00 |
Bought Brainchip
| Bought 2,000 at 80c | 16/6/2022 | 96c | 92c | -$80.00 |
Bought Clinuvel
| Bought 200 at $16.00 | 27/6/2022 | $18.34 | $17.45 | -$178.00 |
Bought Aristocrat Leisure | Bought 100 at $35.60 | 6/7/2022 | $34.93 | $35.36 | +$43.00 |
Bought Domino’s Pizza | Bought 40 at $72.00 | 6/7/2022 | $67.07 | Sold $62.66 | -$206.40 |
Bought Life360
| Bought 500 at $3.50 | 6/7/2022 | $5.12 | $4.93 | -$95.00 |
Bought Pinnacle Investment mgmt. | Bought 300 at $8.20 | 13/7/2022 | $10.64 | Stopped at $10.00 | -$222.00 |
Bought Whitehaven Coal | Bought 300 at $6.00 | 18/7/2022 | $7.75 | $8.06 | +$93.00 |
Bought Australian Vanadium | Bought 25,000 at 0.05 | 10/8/2022 | 0.04c | .04c | Steady |
Bought Stavely Minerals | Bought 10,000 at 18c | 10/8/2022 | 16c | 16c | Steady |
Sold ASX 200 cfd’s
| Sold 5 at 7,060 | 22/8/2022 | 6,961 | Bought 5 at 6,950
| +$22.00
|
Bought BBUS etf
| Bought 400 at $9.10 | 25/8/2022 | $9.10 | Sold 200 at $9.74 200 left at $9.64 | +$98.00 +$108.00 |
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Start 2/1/2022 $50,000.00 | Open balance $62,685.05 |
| |
| $62,685.05 |
| Gains/losses week -$222.40 |
|
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| -$222.40 |
| Current total $62,462.65 |
|
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| $62,462.65 |
Brokerage at $30 per round turn added when sold. | Buy/ close prices and Margin $27,659.80 |
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| $27,659.80 |
Prices from Tuesday night or 6am for US positions. | Cash available $32,904.40 |
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| $32,904.40
|
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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