Each week, Stockhead’s 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.

Platform used: Marketech

Round Trip: A round trip is $10 up to $25,000 and then above $25,000, commission is at 0.02% in and at 0.02% out.

Rules of engagement: Never hold any positions overnight (unless forced) and try to avoid any suspensions (if possible). No shorting.


Monday March 27

Strange day today. Volumes were lower than usual and everything opened up OK and then started to drift and volumes started to pick up a bit.

CBA opened at $96.42 and closed at $95.07 (3c above its low) on 2m shares. WDS (Woodside) opened at $32.40 and closed at $31.47 (just 1c above its low) on 5.3m.

Only had eyes for RIOs today, as they kept hovering around the $114 level. They opened at $114.29, high was $114.31, low was $113.27 and their last trade was $113.75.

Volume was only 670,000 and when I first got stuck in, it was around the 70,000 level. You have to see the chart to see the waves they were throwing out today.

Up $495 as we hurtle towards Autumn and colder weather. Brrrrr. RIO looking good though!

Image: Marketech

Bought 1,000 RIO @ 113.79
Sold 500 RIO @ 114.00 ($105 profit)
Sold 500 RIO @ 114.10 ($155 profit)
Bought 500 RIO @ 113.85
Bought 500 RIO @ 113.55
Sold 1,000 RIO @ 113.94 ($240 profit)
Bought 500 RIO @ 113.76
Sold 500 RIO @ 113.75 (-$5 loss)

Tuesday March 28

Woke up to the European and American markets being firmer to steady overnight and no new bank crisis.

This got me to have a trading plan sorted out in my head. Going to buy ANZ on the opening and wait for them to shoot up by 20c or so by the time CBA open up, as I’m sure that they will take off like a rocket.

Er, got that wrong! This is why I love and hate these markets. Just when you think there will be some quick and easy profits. Bang, you get hit in the face.

As Mike Tyson says, ‘everyone has a plan until they get hit in the face’.

So, in for 2,000 ANZ at $22.72 and they climb a little bit, a little bit of green shoot and then bang.

They fall and so does CBA.

Part 2 of my plan was to switch into CBA, after taking my ‘easy’ ANZ profit and now I have to double down.

Eventually they come good again but about three hours after I thought they would.

RIOs had a late plunge, so had to get involved and it was only till 4.10pm that they came good.

Up $410.

Image: Marketech
Image: Marketech

Bought 2,000 ANZ @ 22.72
Bought 2,000 ANZ @ 22.59
Sold 4,000 ANZ @ 22.72 ($260 profit)
Bought 500 RIO @ 114.32
Bought 500 RIO @ 114.26
Sold 1,000 RIO @ 114.44 ($150 profit)

Wednesday March 29

We’re back! Back on to the CBA trade today, that is. They were hovering around the $95 level and dipped the little pinkies back in for just 500 and when I thought the rally was on, paid a bit more for another 500.

Put on 500 to sell at $95.21 and kept the other 500 up my sleeve. They rallied, triggered out my limit order and then fell and then 11.30am CPI figs came out.

Stock rocketed and I managed to get the other 500 out. Came in at a $370 profit and it was 11.30am and my work was done, as I couldn’t find anything else to have a go at. A chilled day!

Image: Marketech

Bought 500 CBA @ 94.94
Bought 500 CBA @ 95.03
Sold 500 CBA @ 95.21 ($112.50 profit)
Sold 500 CBA @ 95.50 ($257.50 profit)

Thursday March 30

It’s my birthday today, so I got a bit distracted and I really wanted to run my CBA trade a bit harder but I had to close it out and close my laptop, as I had good food and booze to concentrate on.

WDS was the only stock down on my watchlist so had to have a go and see chart on CBA and how they came into play. CBA got as high as $97.95 and as low as $97.01, so they never broke out either way.

Up $310.

Image: Marketech
Image: Marketech

Bought 2,000 WDS @ 33.75
Sold 2,000 WDS @ 33.83 ($170 profit)
Bought 1,000 CBA @ 97.52
Sold 1,000 CBA @ 97.66 ($140 profit)

Friday March 31

An interesting day, with the banks being a bit mixed and the miners starting out strong and getting stronger.

RIOs for example had a high of $120.98 and a low of $118.25 and closed at $120.14.

I dipped in to CBA as it was coming up to 11am. Only went in 500 as I thought they could go below $98.00 but you never know.

Well they did, so I just doubled up and the 11am rally did kick in but it came, like a red bus, a few minutes late.

So that was that. ANZ keep hovering around the $23.00 level and NAB had a 40c range and WBC actually closed down on the day.

The biggest faller on my watchlist today was Woodside, down 1.4% on 5m shares and their range was 95c for the day.

Up $335 today, which brings the week’s tally to plus $1920 gross or $1585 net. Clocks change on Saturday night for me and go back an hour, so it is interesting to see if the European 1.30pm and USA 3.30pm traders time change on Monday.

Bought 500 CBA @ 98.25
Bought 1,000 CBA @ 97.99
Sold 1,500 CBA @ 98.30 ($335 profit)