Each week, Stockhead\u2019s resident day trader gives us a peek at the highs and lows of his trading diary and hints at what might be coming this week.<\/p>\n
Platform used:<\/strong>\u00a0Marketech<\/p>\n Round Trip:<\/strong>\u00a0A round trip is $10 up to $25,000 and then above $25,000, commission is at 0.02% in and at 0.02% out.<\/p>\n Rules of engagement:<\/strong>\u00a0Never hold any positions overnight (unless forced) and try to avoid any suspensions (if possible). No shorting.<\/p>\n \u00a0<\/p>\n Someone put up a pre-market announcement from Regis Resources on my X feed. It said that they had unwound their gold hedge book and that they are now a totally unhedged producer of gold.<\/p>\n I thought this very bullish news for all of the gold bugs out there and being a Monday, with all of the week ahead of me, I decided to throw a bit of caution to the wind.<\/p>\n It worked out OK but had to double down before the market joined in with my excitement. In fact RRL opened at $1.90, had a high of $1.94 and a low of $1.85 on just over 8m.<\/p>\n Then with all the others, it was just a matter of picking an entry spot, after they had broken down through a solid number. $107 in CBA\u2019s case and $129 in Rio\u2019s case.<\/p>\n A cracker of a start to the week, up $1,865.<\/p>\n Image: Marketech Recap<\/strong> Had some lower limits in RIOs and CBA, just in case they broke downwards, which they never did.<\/p>\n Luckily for me, I did some more reading on RRL and decided that some overseas buying will have to come in today, after their news yesterday.<\/p>\n Was happy to up my size, if I had to, and not being shy on this one, as to me everything is lining up for them. <\/p>\n I didn\u2019t have to double down and was happy with my 3c turn. <\/p>\n Could have been more but cautious after the way they traded towards their close yesterday.<\/p>\n One stock. One shot and bingo. Plus $1,500 and seriously thinking I should take the rest of the week off as the rest of the market is very strong.<\/p>\n Image: Marketech<\/p>\n Recap<\/strong> I really can\u2019t find anything that fits my trading style today. What makes a few retirees happy makes me become frustrated.<\/p>\n WBT popped up as a 4% faller and without any news, so maybe a margin call sell off?<\/p>\n Anyway, don\u2019t really care, so pick up a couple of thousand and stick them on what I thought at the time was a bit of an outrageous limit.<\/p>\n Then blow me down they got there. Up $220, on a day when RIOs nudge $130.95 and CBA $108.39. <\/p>\n Amazing.<\/p>\n Image: Marketech Recap<\/strong> Bullish news on interest rates from America means the market only has one way to go. Up!<\/p>\n So, I\u2019m thinking that I\u2019m not going to be doing anything today, when I notice that RRL are looking 10c plus pre open.<\/p>\n Head over to them and they have bullish drill results. So, I\u2019m in just after the opening, just for old time sake. I can feel a bit of a dip and then a bit of a firming.<\/p>\n Then CBA are above $109 and RIOs are above $131, so it\u2019s that kind of market.<\/p>\n Go long CBA, coming into 11.00am, as they just fall below $109. I put them on a sell limit ($109.20) and then adjust it down when it starts to get there and then fall away again. I chase them don and close them out.<\/p>\n Then later, they do it again and I set myself up and get set below $108.80 and again put them on a limit, just in case they pop, when\/if reaching the $109.00 level.<\/p>\n Automatically get taken out when they do pop and then I\u2019m off to the beach. I\u2019m in love with RRL and can\u2019t believe RIOs went above $132 today. They are almost acting like AfterPay used to. My My.<\/p>\n Plus $1,860. Yay!<\/p>\n Image: Marketech<\/p>\n Recap<\/strong> Very bullish signals coming out of USA overnight means that we are in for a cracker of a market, so get stuck in early to BHP early as it comes out of the first opening batch of stocks.<\/p>\n Everything I did today was with the conviction that everything will only get stronger as the day goes on.<\/p>\n Took a bit longer than I thought and I managed a few dips on the way. CSL is still my manic child as it ranged from $276.33 to $279.69 and gave me three good goes today.<\/p>\n As ever, RRL was the stock that couldn\u2019t stop giving and even BHP cracked the $49 barrier and then RIOs managed to crack the $134 barrier and touch $134.04!<\/p>\n Been a big week for me and I must say it was unexpected. Mainly thanks to RRL and their re rating.<\/p>\n Plus $2,560 today, which brought the total for the week to $8,005 gross and $7,152 net, so Santa is definitely back on with oysters, prawns and French champagne all ordered. Happy days.<\/p>\n Image: Marketech Recap<\/strong> <\/span><\/p>\n The post Confessions of a Day Trader: Always believe in\u2026 gold!<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Monday December 11<\/h2>\n
\nImage: Marketech
\nImage: Marketech
\nImage: Marketech<\/p>\n
\nBought 20,000 RRL @ 1.89
\nBought 20,000 RRL @ 1.85
\nBought 2,000 CBA @ 106.94
\nBought 2,000 BHP @ 47.65
\nSold 2,000 CBA @ 107.13 ($380 profit)
\nSold 40,000 RRL @ 1.890 ($800 profit)
\nSold 2,000 BHP @ 47.72 ($140 profit)
\nBought 2,000 CBA @ 106.80
\nBought 1,000 RIO @ 128.98
\nBought 1,000 RIO @ 128.79
\nSold 2,000 CBA @ 106.92 ($250 profit)
\nSold 2,000 RIO @ 129.03 ($295 profit)
\n\u00a0<\/p>\nTuesday December 12<\/h2>\n
\nBought 50,000 RRL @ 1.88
\nSold 50,000 RRL @ 1.91 ($1,500 profit)
\n\u00a0<\/p>\nWednesday December 13<\/h2>\n
\nImage: Marketech
\nImage: Marketech<\/p>\n
\nBought 2,000 WBT @ 3.56
\nSold 2,000 WBT @ 3.67 ($220 profit)
\n\u00a0<\/p>\nThursday December 14<\/h2>\n
\nBought 50,000 RRL @ 2.04
\nSold 50,000 RRL @ 2.06 ($1,000 profit)
\nBought 2,000 CBA @ 108.94
\nSold 2,000 CBA @ 109.08 ($280 profit)
\nBought 2,000 CBA @ 108.76
\nSold 2,000 CBA @ 109.05 ($580 profit)
\n\u00a0<\/p>\nFriday December 15<\/h2>\n
\nImage: Marketech
\nImage: Marketech
\nImage: Marketech<\/p>\n
\nBought 2,000 BHP @ 48.78
\nBought 500 CSL @ 276.78
\nBought 2,000 CBA @ 109.74
\nSold 500 CSL @ 277.30 ($260 profit)
\nBought 500 CSL @ 276.62
\nSold 2,000 CBA @ 109.87 ($260 profit)
\nBought 50,000 RRL @ 2.06
\nSold 500 CSL @ 277.18 ($280 profit)
\nSold 2,000 BHP @ 48.89 ($220 profit)
\nSold 50,000 RRL @ 2.08 ($1,000 profit)
\nBought 500 CSL @ 276.68
\nSold 500 CSL @ 277.76 ($540 profit)<\/p>\n