My energy is low at the moment and it's reflected in the limited blog posts daily. My aim is to put something up every trading day so that I stay in rhythm but today, struggling with a cold, and a grinding uptrend which I'm not capitalising on, there's not going to be much.
One thing I've noticed is that the rally is quite narrow and the outperformance is confined to a few stocks. My main overnight trading stocks are in the top 100 but outside the top 20 and they're tending to be quite mixed in a rising market where the intraday stocks, in the top 20 index, that I'm trading are running quite hard. A quick flick through the bank charts shows that Anz and Wbc in particular have performed strongly.
3.30 pm Since I wrote the comment above, I read an article saying that Goldman Sachs JBWere are encouraging bank buying - esp Anz and Wbc - as the defensives like Telstra have problems and earnings momentum is still ok in the banks. So it's not just my imagination.
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