Mirvac again. Tue Dec 8

It's another quiet one today after flat overnight numbers with the market trying to make up for recent underperformance and not quite managing it. Up 6 points approaching noon but off our highs of up 20.

I've gone long Mirvac Group again at 144.5 on a bullish reversal. This one baffled me with its recent underperformance after having shrugged off the recent sell off only to fall into the rally. The question seems to have been answered with a bounce today after the announcement of a placement at 138. The chart suggests that the placement wasn't a well kept secret. Anyway, we've got the potential of a higher low and a break of yesterday's high so I've taken the trade with my stop at the pivot low of 140. If it goes to plan then I should get a couple of good up days on the reversal of sentiment.

2.26 No new trades but once again the market is weak intraday, down 11 points. Mgr is at 147 while my shorts in Awc, Djs and Tse are all lower.

4.10 Another quiet day for me. The Xjo index fell 6 points after a late recovery.