tradersams blog

open pna

PNA: Opened a position in Pan Australian again today at $0.50.

This share has been good to me in the past, and whilst that is no reason alone for an entry, the volume is good, and the share is making higher highs – gotta be happy with that.  The blue horizontal line is a long term resistance line, which has been firmly bounced off.  trigger was yesterdays big white candle on strong volume.

ipl close

IPL:  Closed my slow moving Incitec Pivot position today at $3.06 for a 4% gain.

The share failed to make a higher high on the recent rise, and was again flat today – not a good sign when the market as a whole has been very bullish this last couple of days.  Incitec was a good earner prior to the GFC, but looks like it has lost the gloss, and so not apparently attracting enough buyers to drive the price up.

aqa - pyramids - 4 of!

AQA:  Pyramided into my Aquila resources position today at $7.53.

This is my fourth entry into Aquila resources, based firmly on the strong consistent uptrend that the share price is exhibiting.  I originally entered the position with a small size as I considered it a risky entry, but after increasing 3 more times after that this is now a significant holding.

So lets see what the market holds for us tomorrow as we go into Fridays trade.  the market in the US has opened strongly.  Volatility is good – I have some short duration options to close in the next week, and as I’m into the last 7 days, tomorrow is the day for it.

Ciao