Day Trader column for November 3 - 2017

The All Ords closed the day’s trading on Wednesday above 6,000 for the first time since May 2008.   This is also the break above the sideways move which has been in place since the beginning of this year indicating to me the uptrend is now clearly in place.

It looks very much like we will see new highs reached by the end of the year.

It has been very difficult to make profitable trades for most of this year and I have just dipped my toes in the market to test the waters for most of this year. As a result of the small amounts played with and serious risk management my capital has remained intact.   What this means is I am not shy of taking new trades now the overall market is moving. 

I am now looking to increase the percentage of portfolio funds in the market which should increase total profits.

There were significant moves in several stocks held this past week, but one stock EML Payments (EML) was sold after it retested the October 10 high and reversed to form a daily pivot point to the downside.   It was sold at $2.13 for a total of $8,500 after brokerage on October 30.    This was a small profit.

Aeon Metals (AML) moved up strongly to 20c last week and then traded for two days at the top of this move just below the early August high of 21.5c.   This is one of the buy triggers I look for and as a result I bought 25,000 shares at 20c on October 30 for a total of $5,020 including brokerage.    The initial stop is the low of the two days trading that triggered the trade.    The initial targets are 24c and 33c, two recent spike highs, but the projection of the pattern formed since 2014 gives a target around 45c.  

I also bought 3,000 Whitehaven Coal (WHC) at $3.68 on October 31 for a total of $11,070 after it formed a daily pivot point to the upside the previous day.   I am looking for it to move to a target level around $6.50 which is a projection of the pattern formed since 2012.

I bought another 30,000 Altura Mining (AJM) yesterday after it traded for two days in a narrow range at the top of the move up from 30c and just below its all-time highs.   

I also bought two other stocks yesterday and have a couple of others on my close watch list.

The other two were Pilbara Minerals (PLS).    I traded this stock last year and rare for me bought into a share offering and as usually happens, the share price fell after the issue but I was stopped out with a good profit.   It has taken PLS a year and a half to move back up from its low around 30c to the 2016 high just above 85c.  The trigger was the strong move up on Wednesday on increased volume.

The next stock was 50,000 Lithium Australia (LIT).   The trigger was also a two day narrow range at the top of a move up to resistance.

 

 

Past columns, information and DVD’s on my methods are available at:-             www.thedaytrader.com.au             

Portfolio Position as at close of trade on November 01 - 2017.

 

Stock

No. of Shares

Purchase price

Stop

Wednesdays Close

A2M

3,000

$3.88

$6.98

$7.16

AJM

30,000

18c

34.5c

35.5c

ARV

25,000

24c

31c

35c

BIG

5,000

$1.735

$2.13

$3.18

AUZ

300,000

2.3c

5.8c

9.7c

AML

25,000

20c

19c

21.5c

WHC

3,000

$3.68

$3.58

$3.84

 

Cash       $304,897

Shares    $102,780

Total       $407,677

Day Trader column for June 16 – 2017

Last week our market had a big fall on Tuesday then for three days the market forces were not able to push it any lower.   Wednesday, Thursday and Friday’s market action each day, was to push the index lower but the Bulls in the market were able to overcome the downward push and force the market to close back at its open (and close) for the day.    The move down on Tuesday last week I believe was the final exhaustion move, down from the April/May highs.   The next three days were the reversal days and then on Tuesday this week the big move up on increased volume was, for me, strong confirmation the market will now resume the uptrend.

The strong move was reflected in the banks which will carry the market at least until it gains more momentum.

As a result of this new confidence I have bought three stocks and in line with my risk management methods I will buy more when I have locked in profit on these three by raising their trailing stops.

I bought 3,000 A2 Milk Company (A2M) on June 13 at $3.25 for a total of $9,770 including brokerage.    I was stopped out of A2M a couple of weeks ago and have been watching them move sideways on greatly reduced volume until the increased volume and move up on Thursday last week.    This was followed by a daily pivot point to the upside on Friday.    This coupled with the reversal days on the index was my buy signal.    If it continues up it has a target around $4.00.    The stop is now $3.20, the low of the day it was bought.

I bought two stocks on Wednesday this week.    The first was Pantoro Ltd. (PNR) which I was also stopped out of some time ago.    It broke above its February 2017 high last week and pulled back for two days testing the 24c level and Tuesday was a low volume indecision day when the price opened at 24c, traded a half cent either side of that and closed the day at 24c.    I bought 25,000 at 24c for a total of $6,020.

The target for PNR is 31c which is a major resistance level, so I will sell it around 30c and wait to see what it does there.   The initial stop is 23c, last Friday’s spike low.   If it continues to move up it will strike further resistance around 50c.    

The second stock bought on Wednesday was Resmed (RMD) which I have been watching for some time, along with the other stocks discussed over the last few weeks.    It broke above its March high of $9.60 on June 01 and had a slow, low volume pullback to test the $9.60 level and then formed a daily pivot point to the upside on increased volume on Tuesday.   This pivot point was the buy signal and I bought 1,000 shares on Wednesday.   It opened at $9.95 (which was a gap to the upside) and the total cost was $9,970.   The initial stop is $9.62 and the first target is $10.20 but the bigger target is around $13.00.  

I am watching the other stocks mentioned recently as most are close to forming buy signals.

 

Past columns, information and DVD’s on my methods are available at:-             www.thedaytrader.com.au             

Portfolio Position as at close of trade on June 14 - 2017.

 

Stock

No. of Shares

Purchase price

Stop

Wednesday’s Close

A2M

3,000

$2.75

$3.11

$3.39

PNR

25,000

24c

23c

25c

RMD

1,000

$9.95

$9.62

$9.98

 

Cash       $327,782

Shares    $26,400

Total       $354,182

 

Day Trader column for June 16 – 2017

Last week our market had a big fall on Tuesday then for three days the market forces were not able to push it any lower.   Wednesday, Thursday and Friday’s market action each day, was to push the index lower but the Bulls in the market were able to overcome the downward push and force the market to close back at its open (and close) for the day.    The move down on Tuesday last week I believe was the final exhaustion move, down from the April/May highs.   The next three days were the reversal days and then on Tuesday this week the big move up on increased volume was, for me, strong confirmation the market will now resume the uptrend.

The strong move was reflected in the banks which will carry the market at least until it gains more momentum.

As a result of this new confidence I have bought three stocks and in line with my risk management methods I will buy more when I have locked in profit on these three by raising their trailing stops.

I bought 3,000 A2 Milk Company (A2M) on June 13 at $3.25 for a total of $9,770 including brokerage.    I was stopped out of A2M a couple of weeks ago and have been watching them move sideways on greatly reduced volume until the increased volume and move up on Thursday last week.    This was followed by a daily pivot point to the upside on Friday.    This coupled with the reversal days on the index was my buy signal.    If it continues up it has a target around $4.00.    The stop is now $3.20, the low of the day it was bought.

I bought two stocks on Wednesday this week.    The first was Pantoro Ltd. (PNR) which I was also stopped out of some time ago.    It broke above its February 2017 high last week and pulled back for two days testing the 24c level and Tuesday was a low volume indecision day when the price opened at 24c, traded a half cent either side of that and closed the day at 24c.    I bought 25,000 at 24c for a total of $6,020.

The target for PNR is 31c which is a major resistance level, so I will sell it around 30c and wait to see what it does there.   The initial stop is 23c, last Friday’s spike low.   If it continues to move up it will strike further resistance around 50c.    

The second stock bought on Wednesday was Resmed (RMD) which I have been watching for some time, along with the other stocks discussed over the last few weeks.    It broke above its March high of $9.60 on June 01 and had a slow, low volume pullback to test the $9.60 level and then formed a daily pivot point to the upside on increased volume on Tuesday.   This pivot point was the buy signal and I bought 1,000 shares on Wednesday.   It opened at $9.95 (which was a gap to the upside) and the total cost was $9,970.   The initial stop is $9.62 and the first target is $10.20 but the bigger target is around $13.00.  

I am watching the other stocks mentioned recently as most are close to forming buy signals.

 

Past columns, information and DVD’s on my methods are available at:-             www.thedaytrader.com.au             

Portfolio Position as at close of trade on June 14 - 2017.

 

Stock

No. of Shares

Purchase price

Stop

Wednesday’s Close

A2M

3,000

$2.75

$3.11

$3.39

PNR

25,000

24c

23c

25c

RMD

1,000

$9.95

$9.62

$9.98

 

Cash       $327,782

Shares    $26,400

Total       $354,182

 

Day Trader column for June 16 – 2017

Last week our market had a big fall on Tuesday then for three days the market forces were not able to push it any lower.   Wednesday, Thursday and Friday’s market action each day, was to push the index lower but the Bulls in the market were able to overcome the downward push and force the market to close back at its open (and close) for the day.    The move down on Tuesday last week I believe was the final exhaustion move, down from the April/May highs.   The next three days were the reversal days and then on Tuesday this week the big move up on increased volume was, for me, strong confirmation the market will now resume the uptrend.

The strong move was reflected in the banks which will carry the market at least until it gains more momentum.

As a result of this new confidence I have bought three stocks and in line with my risk management methods I will buy more when I have locked in profit on these three by raising their trailing stops.

I bought 3,000 A2 Milk Company (A2M) on June 13 at $3.25 for a total of $9,770 including brokerage.    I was stopped out of A2M a couple of weeks ago and have been watching them move sideways on greatly reduced volume until the increased volume and move up on Thursday last week.    This was followed by a daily pivot point to the upside on Friday.    This coupled with the reversal days on the index was my buy signal.    If it continues up it has a target around $4.00.    The stop is now $3.20, the low of the day it was bought.

I bought two stocks on Wednesday this week.    The first was Pantoro Ltd. (PNR) which I was also stopped out of some time ago.    It broke above its February 2017 high last week and pulled back for two days testing the 24c level and Tuesday was a low volume indecision day when the price opened at 24c, traded a half cent either side of that and closed the day at 24c.    I bought 25,000 at 24c for a total of $6,020.

The target for PNR is 31c which is a major resistance level, so I will sell it around 30c and wait to see what it does there.   The initial stop is 23c, last Friday’s spike low.   If it continues to move up it will strike further resistance around 50c.    

The second stock bought on Wednesday was Resmed (RMD) which I have been watching for some time, along with the other stocks discussed over the last few weeks.    It broke above its March high of $9.60 on June 01 and had a slow, low volume pullback to test the $9.60 level and then formed a daily pivot point to the upside on increased volume on Tuesday.   This pivot point was the buy signal and I bought 1,000 shares on Wednesday.   It opened at $9.95 (which was a gap to the upside) and the total cost was $9,970.   The initial stop is $9.62 and the first target is $10.20 but the bigger target is around $13.00.  

I am watching the other stocks mentioned recently as most are close to forming buy signals.

 

Past columns, information and DVD’s on my methods are available at:-             www.thedaytrader.com.au             

Portfolio Position as at close of trade on June 14 - 2017.

 

Stock

No. of Shares

Purchase price

Stop

Wednesday’s Close

A2M

3,000

$2.75

$3.11

$3.39

PNR

25,000

24c

23c

25c

RMD

1,000

$9.95

$9.62

$9.98

 

Cash       $327,782

Shares    $26,400

Total       $354,182

 

Day Trader column for June 16 – 2017

Last week our market had a big fall on Tuesday then for three days the market forces were not able to push it any lower.   Wednesday, Thursday and Friday’s market action each day, was to push the index lower but the Bulls in the market were able to overcome the downward push and force the market to close back at its open (and close) for the day.    The move down on Tuesday last week I believe was the final exhaustion move, down from the April/May highs.   The next three days were the reversal days and then on Tuesday this week the big move up on increased volume was, for me, strong confirmation the market will now resume the uptrend.

The strong move was reflected in the banks which will carry the market at least until it gains more momentum.

As a result of this new confidence I have bought three stocks and in line with my risk management methods I will buy more when I have locked in profit on these three by raising their trailing stops.

I bought 3,000 A2 Milk Company (A2M) on June 13 at $3.25 for a total of $9,770 including brokerage.    I was stopped out of A2M a couple of weeks ago and have been watching them move sideways on greatly reduced volume until the increased volume and move up on Thursday last week.    This was followed by a daily pivot point to the upside on Friday.    This coupled with the reversal days on the index was my buy signal.    If it continues up it has a target around $4.00.    The stop is now $3.20, the low of the day it was bought.

I bought two stocks on Wednesday this week.    The first was Pantoro Ltd. (PNR) which I was also stopped out of some time ago.    It broke above its February 2017 high last week and pulled back for two days testing the 24c level and Tuesday was a low volume indecision day when the price opened at 24c, traded a half cent either side of that and closed the day at 24c.    I bought 25,000 at 24c for a total of $6,020.

The target for PNR is 31c which is a major resistance level, so I will sell it around 30c and wait to see what it does there.   The initial stop is 23c, last Friday’s spike low.   If it continues to move up it will strike further resistance around 50c.    

The second stock bought on Wednesday was Resmed (RMD) which I have been watching for some time, along with the other stocks discussed over the last few weeks.    It broke above its March high of $9.60 on June 01 and had a slow, low volume pullback to test the $9.60 level and then formed a daily pivot point to the upside on increased volume on Tuesday.   This pivot point was the buy signal and I bought 1,000 shares on Wednesday.   It opened at $9.95 (which was a gap to the upside) and the total cost was $9,970.   The initial stop is $9.62 and the first target is $10.20 but the bigger target is around $13.00.  

I am watching the other stocks mentioned recently as most are close to forming buy signals.

 

Past columns, information and DVD’s on my methods are available at:-             www.thedaytrader.com.au             

Portfolio Position as at close of trade on June 14 - 2017.

 

Stock

No. of Shares

Purchase price

Stop

Wednesday’s Close

A2M

3,000

$2.75

$3.11

$3.39

PNR

25,000

24c

23c

25c

RMD

1,000

$9.95

$9.62

$9.98

 

Cash       $327,782

Shares    $26,400

Total       $354,182