More of the same. Fri Apr 8

The Asx 200 keeps making new highs although it's a game of inches. On Monday the high was 4902 which has been followed by 4905, 4913, 4924 and so far today, 4929.
Like most traders, I'm pretty bored with it and always looking for the next thing.
So far this morning, I've stopped out of Osh at 734 and added to my short in Tol at 594 only to see it rally back to 598.
The golds are hanging in there, Mincor is firm and Tls is down a couple so my overall book is ok.
US listed rare earths stock, Molycorp, is driving the sector globally. It was up over 10% last night and while Lynas has gapped too far for my liking, I've picked up some stock in Aru at 132. I sold my longs at around 137,138 earlier this week and I didn't think the swing was over, so it's nice to get another chance.

2.19 It's turning into a solid up day with the index a tick below the intraday peak of 4942. I bought some Linc at 292 before lunch. They've had a fairly shallow a-b-c pullback and look ready to go again. The resistance at 3 bucks is significant but the set up is excellent as this has the potential to be a 3rd wave.

4.18 The Asx 200 finished higher by 32 points at 4941. It's a difficult market to trade and I've been chopped around this week, small dollars but the opportunities to have gone the other way look pretty obvious in hindsight. It's a chart of a short squeeze; you generally get a series of tight range days with few little pullbacks to allow you to cover or reverse at good levels. The range today was a bit larger and the last two Fridays have been solid which is another indicator of Friday covering.