Well, do we think we will make the weekly targets?
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Yes BAS gained half cent to finish on 18.5c. Our volume was good, but less than last few days, around 6.5m shares traded. We opened on 18, touched 19 and 17 and closed at 18.5 - I am sure the chartists may like it again. .
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In yesterday's post I had detailed our journey for last 2 weeks. Based on that we were supposed to be on the third mini-leg. We had a green yesterday, I had written there is a good chance of another green today - and we got it - a lucky call as we all know anything can happen.
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I felt today's trading was very good - in fact, not only today, but for last 2 weeks. The big boys who are with us are taking this methodically and slowly, a real professional touch. I feel as long as they are with us, we could just watch/buy/hold as an individual strategy is. One of the reasons I have not panicked even on down days - hopefully they have big targets. Other days they were buying big and people used to sell by evening. So they thought they will change the tact - they didn't go for big buy in morning. All weak hands came to them in morning and they had their fill. Later in the afternoon they made their move. I thought it was a fair finish.
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Personally, as I have written in some other threads as well, I always have 2 types of holdings - some I keep for long term and do not trade that, and others I keep on trading. My ratio is usually two-thirds long, one-third to trade. I like to trade, buy/sell etc so it fits into my nature as well. I have been trading that one third nearly every day and in between adding to my long position. Lets see how it turns out.
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From a weekly target perspective ( from Sunday's post) we have achieved one - a higher finish at 19.5. It would be good to get at least one more of the 3 - go above 22.5, finish above 22.5, touch 26. The most likely if we were to get another one would be to make a new high above 22.5 - lets see.
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So what will happen tomorrow? We are now in a routine and we like to do at least 3 green days. All those following charts will have another good look tonight. They must have looked at it yesterday and must be watching - for confirmation. Today's trading did give that in some way - I think but please dyor. We finished strongly today. We may start strongly tomorrow. It would be good to get over 22.5 for a perfect week. Will that happen? Let's hope so. All the best.
