Sneaking up. Thu Apr 14

Almost an hour in and the Asx 200 is 20 points lower and it looks like yesterday was a pause before more weakness. European indices recovered but the US didn't do much. Oil and gold have muted recoveries while base metals sank again. The large miners are down around a percent and the top 20 generally is a bit weaker than the overall market. Some of the smaller caps are having a sneaky rally. Regis (gold) is up on a positive quarterly cash flow although I haven't got much left; I've just been feeding my last stock into the buying this morning. Rsg and Sbm are showing signs of turning and Iau is up.
My energy longs are a bit softer. Karoon is the problem position. It's fairly choppy so I've got a wide stop, below the last swing low. I was hoping yesterday's late recovery would feed into today but there's been no joy yet.
The key here is that the rally has broken through resistance but it's only just holding a little trend channel.

Otherwise Boral has bounced 10 to 507 and is just below the sell signal. I'd bought about half of my position back in the 490s so I've reshorted at 507.

11.04 Yesterday, I got Lynas wrong early and recovered later. I sold out the long stock this morning and I've shorted it at 256. I'm anticipating a lower high and it may be that the stock can get a bit closer to the recent high at 270 before falling over, if I'm right. At least, the fill is better than yesterday where I was chasing the trade.

2.04 Back in the office after a couple of hours away to find the market down by 35 but off the lows. Not a lot of change.

I bought back the last of my Ipl short in the low 420s and it has fallen further to confirm a sell signal. The chart is much clearer now and I'll be looking to re-short into rallies or flat consolidations.

4.14 The final result was a 27 point loss as the Asx 200 fell below 4900 to close at 4884.

I reduced my longs in Iau, Kar, Lnc, Rsg and Sbm but added a small new position in Toll. I'm assuming that this will make a higher low because the downtrend has lost all momentum. It has retraced about two thirds of the recent swing so I'm to start nibbling at a long here.

Otherwise, Boral fell back a little to 505.

I'm not quite in synch yet, 2 days up then 2 days down for a very minor gain so far this week.