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 Come in today and the AFR says the market will be down 1% as the futures are looking that way.<\/p>\n So, all the banks were down and the iron ore miners were up. RIOs touched a high of $119.35 and CBA reached a low of $96.15.<\/p>\n CBA close 7c higher than their low and stayed in a narrow range today, so there were slim pickings for me until IGO popped up as the day\u2019s biggest major faller.<\/p>\n They had some disappointing figs out pre-market. They had a high of $10.50 and a low of $9.40 on volume of 9m shares.<\/p>\n Unfortunately for me, I got stuck in a bit too early, as I was thinking well, their bad news is out for everyone to see.<\/p>\n Had four goes at getting my average down and never reached breakeven, though missed that by 2c. Split the sell order up and got out just before their close.<\/p>\n Could have been worse on the red ink side but not too bad a loss, though I wished I had have just done nothing. At least I wasn\u2019t too bored.<\/p>\n CBA were just 15c away from trading in the $95s and that\u2019s down from $98 on Friday, so they are getting interesting to watch.<\/p>\n Let\u2019s see what the rest of the week brings.<\/p>\n Lost $437.50.<\/p>\n Image: Marketech Recap<\/strong> Well, today turned out to be a bit of a bread and butter day though there was a bit of pain before the gain.<\/p>\n RIOs actual traded range was $119.30 to $116.88 and I thought I was being pretty smart at $117.84 but had to double down at $117.00. <\/p>\n I did try and get them in the $116s but had to chase my tail and eventually $117.00 was the level.<\/p>\n CBA were very slow to go green for me and wafted in and out of profit. Their range was $97.21 to $96.25.<\/p>\n Needed some patience today and I think tomorrow will be worse, as waiting around for opportunities can be quite tedious.<\/p>\n Such is life!<\/p>\n Up $890, so back above water after yesterday\u2019s result.<\/p>\n Image: Marketech Recap<\/strong> Did nothing all day but watch RIOs fly off as they almost touched $121.00 at their peak. <\/p>\n Their range was in fact $118.33 to $120.92 and they were acting as if they were caught up in a short squeeze.<\/p>\n Amazing stuff.<\/p>\n CBA were extremely boring and were in a tight range and I ended the day resolved to the fact that I was not going to be able to do anything in any stock today.<\/p>\n However, coming into the last 15 mins of trading NAB were being marked down and with RIOs up, surely CBA will have a rally to catch up.<\/p>\n So, against all rules, in I went and waited. <\/p>\n Up and down 2c every second in both CBA and NAB till they hit 4.00pm and then they both had a tickle up, though CBA had a real rib-cager of a tickle.<\/p>\n Up $930 and all in the last 10 min match-up, which makes a change.<\/p>\n Made today a long one, though I did sneak in a nana nap under a shady tree by the beach an hour before the close.<\/p>\n Image: Marketech Recap Stronger markets overnight leads to me having a pre-market plan, as I think the banks will rocket out the traps, so with ANZ starting to shoot out first in the opening rotation before CBA, then NAB and finally WBC.<\/p>\n Basically I\u2019m in ANZ on the opening and out of them just after WBC open up. It may only be a small profit but it was more about nicking a profit in a horny market.<\/p>\n Later as I\u2019m giving my watchlist an 11.00am check, WDS are the only one in red,so I give them a quick nudge in and out.<\/p>\n The CBAs and RIOs were the shining stars today, so have added their charts as well. RIOs in the $121s and CBA nudging $99, who would have thought? <\/p>\n Not me.<\/p>\n Up $240. <\/p>\n Image: Marketech Recap<\/strong> Strong opening all round.<\/p>\n Over the day, CBA hit $99.99 and couldn\u2019t just make a full ton. <\/p>\n In fact you could say that today they did a Bradman, whilst over in RIO, they were basking in the sun after going through the $123 level. It was only last week that we were trading in them at the $111 level.<\/p>\n I did alright out of TWE today, after they came back on following a fund raising exercise.<\/p>\n Their range today was $11.44 to $10.75 and at their close of 11.04, they were down 7.8%.<\/p>\n Took a bit of pain but eventually I could lock in a profit, which took me a few goes as my phone was playing up and I had to reboot it a couple of times before it came good.<\/p>\n Up $880 today, which makes it $2,502 gross for the week or $2,028 net.<\/p>\n Of course next week we have the Melbourne Cup\/Rate rise? Combo and either way, everyone will end up being messy by the end of the day!<\/p>\n Image: Marketech Recap<\/strong> <\/span><\/p>\n The post Confessions of a Day Trader: Miners in front, banks bringing up the rear. What are the odds?<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Monday October 30<\/h2>\n
\nImage: Marketech
\nImage: Marketech<\/p>\n
\nBought 2,500 IGO @ 9.93
\nBought 2,500 IGO @ 9.77
\nBought 2,500 IGO @ 9.66
\nBought 2,500 IGO @ 9.63
\nSold 5,000 IGO @ 9.70 ($218.75 loss)
\nSold 5,000 IGO @ 9.70 ($218.75 loss)
\n\u00a0<\/p>\nTuesday October 31<\/h2>\n
\nImage: Marketech
\nImage: Marketech<\/p>\n
\nBought 2,000 BHP @ 44.63
\nBought 1,000 RIO @ 117.84
\nBought 1,000 RIO @ 117.00
\nBought 2,000 BHP @ 44.31
\nBought 1,000 CBA @ 96.43
\nSold 2,000 RIO @ 117.64 ($440 profit)
\nSold 4,000 BHP @ 44.55 ($320 profit)
\nSold 1,000 CBA @ 96.56 ($130 profit)
\n\u00a0<\/p>\nWednesday November 1<\/h2>\n
\nImage: Marketech
\nImage: Marketech<\/p>\n
\nBought 2,000 CBA @ 96.58
\nBought 5,000 NAB @ 28.09
\nSold 2,000 CBA @ 96.87 ($580 profit)
\nSold 5,000 NAB @ 28.16 ($350 profit)
\n\u00a0<\/p>\nThursday November 2<\/h2>\n
\nImage: Marketech
\nImage: Marketech<\/p>\n
\nBought 2,000 ANZ @ 25.25
\nSold 2,000 ANZ @ 25.30 ($100 profit)
\nBought 2,000 WDS @ 34.38
\nSold 2,000 WDS @ 34.45 ($140 profit)
\n\u00a0<\/p>\nFriday November 3<\/h2>\n
\nImage: Marketech
\nImage: Marketech<\/p>\n
\nBought 4,000 TWE @ 11.14
\nBought 4,000 TWE @ 10.88
\nSold 8,000 TWE @ 11.12 ($880 profit)<\/p>\n