I bought back another 10,000 Ozl at 107.5 for a 600 dollar gain and I'm still short 20k. I've also got a new trade to feature which is a continuation short in Ipl. It had a little 3 wave retracement which should have taken out some short positions and encouraged a few trading longs so I think there'll be some momentum for a move down towards 320 or perhaps even 300. My signal was at 340 and I got short 15,000 shares at 338.
12.54 The market is particularly weak and it seems like selling out of resources is gathering steam. The banks are copping it too, down 88 points at 12.55. The index is sitting at 4585, I thought 4600 might be the rough area for a pullback to reach but there's still a lot of momentum and I think we're in the third wave of a sell off so even a rally soon should fairly quickly fail. The next level might be the early November level of 4502.
1.15 I've been fiddling around with the blog because I don't like the spacing I've been getting with the extra large charts so it's back to large ones. Just click on them and they'll display at a nice readable size. I also lost my colour settings so it's a bit random now.
4.18 It was a hefty down day, finishing on the lows at 4570 which is a loss of 104 points. Short 15k Ipl and 20k Ozl. More on Monday.
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