Mood swing. Tue Dec 15

A reasonable overnight lead yet again and finally the local market is moving out of the doldrums. The market is still in a trading range but it's another higher low towards the bottom of the range and after a sequence of weak performances it seems like the only way to go is up - in the short term. I was stopped out of my Sgp short at 399 (v 388) and I'm disappointed I took the trade as it was marginal. Also in the property sector, I re-entered my long position in Mgr at 149 as it finally starts to take off. A lack of patience has cost me a few cents here but now that it's showing signs of life I'm hopeful of a move towards 160.

As anticipated last night, I got confirmation of buy signals in Aoe, Bsl and Lgl and have taken them all on simple reversals.

Here's Aoe, long at 396.Bsl, long at 286........and Lgl, long at 329. Actually, this is more of a tight 1-2-3 buy signal after a double bottom while in Bsl, I'm pre-empting a breakout after an a-b-c pullback following a wave 1.

11.26 The market is holding the gains, up 26 points. I'm about to head off for a few hours and there's one more stock that's setting up for a buy, Goodman Fielder. It just has, in fact, with sales at 156.5. I've bought a half position and I'll see if I can buy the rest when I get back.

3.49 Before I left I closed out my short in Cgf at 408 (v 399). The breakdown seemed to fail quickly so I thought it best to use a tight stop. I completed buying Gff at 154 on a pullback to average 155.25. On the plus side, my longs are all performing well with Cey up 13, Ost up 10 and Mgr at 151.5 while the shorts are flat to down.

4.14 The final figure is up 19. I sold out a few Cey at 353 (v 336) on the close and bought back half of the Ozl at 116 (v 118) as it was a new low after a retracement against me.