some observations and actions which i would like to think have contributed to this being a good day are
1. the all ords is still in a sideways to upward trend, and even though the US markets had sizable downs over the last few days our markets were down, but much less. ie. far more resilient.... so i figured that the next good day on the US markets would produce a sizable up - and that what has happened today
2. the $A moved further upwards o/night to above 93c.
3. the price of gold moved further upwards o/night to $US 1313.
so this morning all the stars were aligned - as i saw it.
THE BANKS as i have mentioned before the bank charts move in unison with the australian dollar.
WBC - long, 4 bites (added another 2 bites this morning)-UP so we are going in opposite directions on the banks JONGO.
GOLD STOCKS MML - it dropped sharply yesterday when other gold stocks went up on the POG - due to its announced intention to delist from the LSE. ....i can not see why that should make too much difference to its price on the ASX in the long term, so i bought up cheaply i thought, and today i bought some more, again i think cheaply.
so 4 bites yesterday + 2 bites today = 6 bites. ... then sold 3 bites later on today at a good profit leaving 3 bites, which i am hoping will go further, assuming the POG will continues to strengthen.
all sounds pretty cool, but the stock had been moving all over the place, so i am not kidding myself there is a bit of luck in this too.... back again after finishing my "plunking" and the price is now up to $2.01 - up almost 8% today.
THE RETAILERS the sale of DAVID JONES announced this morning has caused all the retailers to jump.... HVN jumped from last nights close of 3.16 to 3.31 (back now to about 3.29)... . that news will bouy them for a little while
but i believe the retailers have another thing in their favour at the moment and that is the $A, lower purchasing costs in $A should lead to higher margins. ... so i am now very bullish the retailers, the trouble is they are all a bit high at the moment because of the DAVID JONES sale. so HVN - long, 2 bites - going very well another lower bid in - UP
MQA - long, i bite - purely buying into an upward trend here, absolutely no financials to back this - its infrastructure, toll roads...... huge debt, cash flow does appear to cover it, but all these toll road financials are similar. ... anticipated traffic growth is the key i guess. any how it has a strong upward trend - anything that makes a buck is okay by me .... and it's already - UP
the other longs are all going well in a small way also. ------------------------------------------------------------
YURT - your gold stocks must be doing nicely by now, or are you too buzy puting that seed in to notice ??
