daytrade diaries...monday

morning all,

once again we start another week after another ordinary session in the US, hopefully now that february is out of the wasy we can start march on a better note.

in terms the US I get the feeling we are not too far away from a short term bounce, keeping an eye out for that reversal day where there is a significant sell down then intra-day turnaround and move higher on good volume.

for trading themes today, I'm going to stay with what has been working, that is smaller companies with exceptional yields, with EHL going ex-dividend tomorrow, I'm considering exiting today to get ahead of the sell down on tuesday morning as the company won't be as attractive to investors once the dividend is out of the way.

I still believe there is considerable upside in SSM over the next 3 weeks leading into its ex-dividend date and it wouldn't surprise to see, as some other smaller companies go ex-dividend that the yield chasers move over to SSM.

On friday afternoon SSM had an artifically low close due to a couple of last minute sell orders dragging the stock down to 28.5c against a VWAP of 31.55c. This could lead to a bounce first up this morning.

other than EHL and SSM I might play a waiting game untill the market shows the first signs of a tradeable bounce scenario.

in this environment stick with cash and dividends.