The overnight leads were pretty good with the sell off in commodities seemingly over. After fearing the worst in our session yesterday regarding Greek debt, the outcome was quite different with strong rises in Europe. The result is a catch up day and a strong start has been maintained with a 48 point rise after 48 minutes.
I bought OZL on the opening match at 143. I was very tempted to buy back in yesterday and probably could have done but after two broker upgrades this morning, it seemed clear the stock would be well bid. It's an oversold bounce so the rally is likely to be short and sharp and I may be out by this afternoon.
11.19 The rare earths stocks in the US took a hit and after ARU failed to match the stock specific early strength of LYC, I sold for a small gain at 113.5.
I've gone long SEK at 705. It looks like a pennant correction which is breaking to the upside. My stop is just below the low from 2 days back because it's too far back to the last swing low.
12.04 The Chinese monthly figures are out. Early indications are that the numbers are fairly benign, with the economy slowing. I thought it could be a negative for the Aussie market but so far the reaction has been just a small drop. Still up 38.
12.44 I sold out half of the OZL at 146 as the market started to weaken. The index is recovering though and it looks most likely that there's more strength to come in the short term. Here's the XJO 30 minute chart. It's choppy but there was a rally from Friday's opening low, a fall to a higher low on the close yesterday, while today's rally has found support and could easily have another leg up of 40 or 50 points.
I'm getting to grips with different software for composing the blog and while it's generally superior to the other package, there's a real problem with fonts which is why I'm experimenting with them. It's particularly difficult to save a font size so it could be a day or so before things settle down.
2.39 There was an opportunity to buy LNC on a resumption of the rebound after a short consolidation. I'm long at 286 although I dithered for an hour or two and missed a cheaper entry. Stop is in the low 270s. 
3.25 Out of the balance of OZL at 148. The market is having another attempt at the intraday high, up 50 at 4776.
4.15 Another leg up looks on as the Asx 200 pushed to a new intraday high and closed near that level at 4780, up 54.
I reconsidered ARU and bought back in at 114.5 as the stock took heart from the overall market strength and finished mildly firmer.
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