daytrade diaries... friday, page-26

morning guys,

sorry for the late morning update, I have been watching RBA governor's Steven's Q&A this morning, and from what he has been saying don't expect any more rate cuts anytime soon.

although it is dissapointing that the DOW closed below its november 20th low overnight it is not a significant as the S&P 500 which currently sits about 27 points above its bear market low, if the 752 level on the S&P 500 breaks it will get ugly very quickly.

in terms of themes today, I believe there is some excellent value in buying beaten down high dividend yield stocks such as ABC,FXL,SSM.

a bit of a pause in the rising gold price overnight might present an opportunity to pick up some gold stocks on any retracement.

bought some FMG in the pullback this morning, taken a nice 18c scalp, and will be on the lookout for any opportunities that arise during today.