Rolled gold. Thu Oct 8

A flat night in the US with some small weakness in Europe but after an early blip down we rallied further with a second kick coming after good employment figures at 11.30 so that we're up 39 points now, at 11.46.
I'm rolling out of my gold stocks now because they're stalling - although they probably have further to go - and I've seen a couple of stocks which look likely.
Out of Lihir at 318 (v 296.8 av) and half of the Sbm at 33 (v 29.5).

12 pm Carnarvon Petroleum has chopped down 1.5 today to be at 55 but Ozl, despite news of a class action against them, has rallied 4.5 to 126.5. It's not quite as strong as the alternative which was Awc, but still ok. I sold out half at 125 (v 120.4).

The market is now up 62 points and getting close to the recent high. I've got interest in Axa, Esg and Tpi but I've only bought some Tpi at 160 and that's with some reluctance as we're up 170 points in a day and a half.

Here's Tpi.

12.09 So much for a B wave rally - ie a lower high. The Xjo index has just hit new highs at 4771.

12.23 I've bitten the bullet and bought some Axa at 444. I don't feel great about the Xjo being stretched but it's a nice clean break and I'm trading the stock not the index.

1.34 Sold out of the balance of Sbm at 32.5 and more Ozl at 125.5.

3.41 Bought some more Tpi and the average entry price is up to 161, stock's at 163 though. Axa is looking good at 450, Cvn's still stuck at 55 but not a cut yet and I'll sell the last of the Ozl into the close.

4.11 The market closed up 73 points. Sold out the last of the Ozl at 125.5 (v 120.4). Long Axa, Cvn and Tpi.