Metals crunched. Thu Jan 28

We've been sold down heavily over the last week or so and today the market has been trying to retrace after a small overnight rally on US indices. We're up 4 points at 12.18 pm which is down from an earlier high of up 20 points. It's actually quite an impressive performance because base metal prices were hit again last night. Despite that headwind Bhp and Rio are a little firmer today and most resource stocks are steady.
Challenger has been back up to 413 today although it's down to 402 now. I bought back my last 6k at 406 as it was rising early for a profit of 540 and 990 overall, less 24 dollars in costs.
I can't find any new trades today as I think the downtrend has further to go but I would like to see some of the resource stocks rally in the next day or two before I short them again.
My only remaining featured trade is a short in Ozl, which is down 1.5 at 111.5.

3.01 The afternoon is proving quite strong and there's the hint of a reversal rally about so I've bought back 10000 Ozl at 111.5 for a 200 dollar gain as the stock broke support but is looking as if there's a chance that it will regain the key 112 level.

4.20 Well, today was a pretty tedious day although a small mercy is that Ozl didn't quite manage to close at 112, finishing at 111.5. The market managed a gain of 29 points which is well below other markets in our time zone which are up close to 2% with US overnight futures quite firm as well.
I've got a couple of potential trades for tomorrow, probably reversal buys.