Well, I am still holding Zinifex, [ZFX.ax] almost like a familiar old friend now- It had another nice move up - But as this is a Zinc miner and subject to huge price swings, it can just as easily come down. I have moved the stop loss to 200% Return on Investment [R.O.I.] at around $17.35 - in case you're wondering I am using Contracts for Difference so I have a deposit of say $500 and my current profit is $1000 - hence that's 200% R.O.I.
I am thinking of moving the stop loss in line with the weighted moving average from here on in.
OXR- [OXR.ax] Once again some nice movement in this one - but then Gold dropped $20 an ounce on Thursday as well as Copper and guess what Oxiana has plenty of exposure too? Yep- Gold and Copper- and so it gapped down . Stop loss is now following the Weighted moving average....which is just over 100% R.O.I Max profit at the high of 3.52 was an R.O.I. of 289%! Placing the stop at 200% would have done no good as it gapped through this.
While we're on Gold- I thought that Sino GOLD [SGX.ax] was doing 'the right thing' on Wednesday, so I bought on the close- nice Strong Bar Plenty of volume RSI-CROSSOVER, coming out of a consolidation area- but the next day it bombed and the day after, gold was down $20 an ounce- it gapped below my stop loss for a197% Loss on invesment- that's the way the ball bounces sometimes!
I also had positions in IFL.ax and TSE.ax this week , but they failed to do anything so I got out for break even.
Currently I have a hankering for oil and this week bought into Oil search [OSH.ax] and Beach Petroleum[BPT.ax]
Oil Search seemed to have a long term RSI-X-over occuring and I got on board the huge breakout bar on Wednesday- Thursday was nice going into 38% R.O.I. - Thurday's Fuel inventories news in the U.S. [We have got plenty!] sent Crude prices down and so we backed off a bit on Friday, but still in reasonable profit- stop still on the swing low.
Beach Petroleum- this one's currently sitting on break even awaiting something.....some strong days this week with above average volume- Friday's retreat was on low volume, so I am not too worried.
Finally, I don't ususally go near property investment stocks or developers but Sunland Group [SDG.ax] Yelled at me to be bought--so I did. It was exhibiting all my favorite characteristics-
- Higher Low,
- Strong bar through the Moving average,
- Above average volume,
- RSI-Crossover
So I Entered the trade near the Close on Thursday and it continued its journey upwards....currently a 37% R.O.I.
Anything else?
Oh yes.... SHL Sonic Health Care.... I was inclined to this due to a lot of merger activity in the Health Care sector... it did do a very strong bar on a longer term higher low- but failed to carry- it has been range bound within the large bar of Thursday of the previous week. Has poked its heads into profit a few times currently Minus 31% R.O.I.
Phew- Oh and I also offered 12 Billion for Qantas,but they weren't interested in my offer!
For more trading stuff and Wealth creation tools check out my website mymillionairebuddy.com/sharemarket
