Post OH and S slides. Fri Nov 13

After a 1% fall overnight, the Australian market has followed suit with a drop of 35 points after an hour or so. It's steady as she goes really with no big movers in the stocks on my watchlist. Like a slide in a modern children's playground, there's no exciting dump just a barely perceptible drift down.
I have no new trades, I'm just managing my existing positions with Cgf the most interesting as it has gained 5 to 393. If it pushes above Tuesday's high of 396 then I'll be selling out later for reasons outlined yesterday.

12.10 Cgf made it to 397 then retraced in a market which is continuing to fall slowly, now down 56 points. I've sold out half at 394 (v 392).

3.07 There's been a recovery since lunch and Cgf has been a beneficiary, pushing convincingly past 396 to a high of 406. I'm still planning to sell my balance out on the close although I can see that the stock could be moving into a larger scale pattern. I'm quite happy with this trade because previously I might have kicked myself for a poor entry and just cut it for 380 something. With a little more patience and my assessment that the risk/reward favoured more strength, I've been able to get something out of the trade.

4.10 Out of the last of the Cgf on the match out at 403 (v 392). The market closed down just over 40 points. I've held the rest of my longs and shorts. Off to yoga, more on Monday.