Reflecting on the day's trades might be interesting to overhear as well. I'd be fascinated to hear what people bought/sold and why.
I do like the adage 'buy on a bad day, sell on a good' as it gives room for market corrections to do their thing - often enough to be useful. Today I sold out of CTO. Bought in at 18.5/19 last week and exited at 27 today for a 40% return on that trade. My next plan was to go short SBM if it hit 37, but it didn't. Bought DIO at 32c this morning and it's now sitting at 38c - a tidy 20%ish gain in a day, although I note it doesn't make it to the news.com movers and shakers list. This may end up being a short term play. I stood aside from NCM as I had a feeling $900 wouldn't hold for the day which may mean a correction tomorrow - although copper has done well. Also traded out of half my position with LGL, meaning I missed the afternoon trot it went for. I was watching the development of the 'mine closure' there with interest, as it would be unusual to close a mine just due to a landholder distribution issue, but it seems now like it might be a tempest in a teacup. May look at reentering once the POG stabilises.
I did take profits a little prematurely with LGL in hindsight, but I'd rather a cautious approach in this market.
I plan to accumulate some more MCO tomorrow, depending on its movements. The options offer there is too tempting for me.
