What is everybody else doing I am wondering, because I am not doing much at the moment. That is, other than waiting while this period of consolidation after the recent bull run has finished. Trying to pick a signal that the present consolidation is over is the tricky bit. It could be over this week, it could be several weeks.
The only trades that I have open at present are the short trades in RIO and WOW. One is up a bit, the other down a bit, even overall. I consider both of these two short trades to be reasonably safe. RIO because you need to look back to Feb 2013 for a similar SP level, and there is solid resistance at this level stretching back to Oct 2011. Similarly, WOW has solid resistance at this level back in March and April 2013.
Nothing else particularly interests me at the moment, but I am keeping an eye on BHP, ANZ, FMG, WES, WBC, NCM, HVN, AMP, and TLS.
My new installation of BullCharts arrived in the post today. I don’t have the energy to install it and set it up tonight, maybe I will install it tomorrow, after which I will see if I can remember how to run some scans, etc.
