Light duties. Tue Mar 29

The US market mimicked us with a low volume, slightly weaker day....have they no ideas of their own? It's more of the same here today and so far, I've sold the balance of the Lynas position at 213 (v 209). It's now shaping up as a potential trading short. I'd like to see it trade at 209 which would be a break of yesterday's low. However, I've shorted a few at 211 with more on the offer at 212. The stop is 220 and a pull back to around 195 looks plausible.

Otherwise, it's more tinkering. I've shorted more Fmg, bought a couple more All, and once again, put on trading shorts in Osh and Ozl. Wsa was weak early and I bought back most of the short at 647 which took that little trade into the black. I'll probably sell some more on a bounce.
Mincor never rebounded yesterday but there was some minor strength on the open and I sold the last of the position at 137.5 which was a breakeven result.

12.09 The index found some support so I've been scrabbling back into a couple of trading shorts with no harm done. I'm still looking for another minor swing down so I'm trying to reshort where I can.

12.20 There's a shift into defensives. My watchlist is quite high beta and the only stocks up are Bld, Qan, Sek and Tls while most of the resource stocks are down.

3.38 The market has been grinding up for most of the day. I got out of the Osh and Wsa shorts at good levels and some Ozl but Fmg and Lyc have squeezed against me. On the long side, Sek has done well and Aristocrat is doing nothing. All very nondescript.

4.11 The Asx 200 finished up 22 at 4756 which is 7 points below yesterday's high. If there's a weak overnight lead then there's the possibility of another swing down, which is what I'm looking for. Here's a 30 minute chart.