Just over an hour into trading and the local market is up a conservative 1.4%. Conservative because it's less than 2% - although we ran a little yesterday - and conservative because resource stocks were big outperformers overnight.
As I was hoping, the Xjo has the capacity to run hard after our long consolidation and after yesterday my book was as long as it has been for a month or two.
Linc and Mml have been the best performers with Awe and Pna also doing well. I bought some Resolute (a gold stock) yesterday at 133.5 so they've done well too.
Arafura and Lynas are still struggling but they have at least joined the party with small rises.
Ozl goes from strength to strength despite having surged past most brokers' valuations.
Pna is the mini-me to Ozl's Dr Evil and is not as overvalued but neither does it have earnings support. I still like the chart a lot, hoping for a similar push through to new highs.
12.37 The market is just chopping sideways and most of my holdings have edged back. No real changes yet.
1.55 Once again Lynas is selling off and I'm stubbornly holding on because I think the bounce back could be huge. Not fun on the day though, to be giving back profit made elsewhere.
Market is doing nothing overall, still up 50 points.
2.39 Out of Mml at 588 average. Still long gold via Rsg and Pna.
3.34 Out of the extra Awe, bought yesterday, at 160. Sold a small amount of Linc at 228.
4.12 The index closed up 55 points. It was a very similar day to yesterday with a dull consolidation after an opening surge. Here's a 10 minute Xjo chart for the last two days.
The Aru placement shares start trading on Monday. I had an ok day but it would have been much better without my rare earths dalliance. Awe, Lnc and Rsg all finished strongly while Pna drifted off to close at 79.
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