Each Monday, 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 August 29

Aussie Broadband drop after coming out with their profit figs, pre-market, so they appear as a big faller.

Watching them as they start to firm up, heading into 11.00am.

Again, their news is already out and they become oversold. Put in an order for 4000 at $2.64 but keep missing them till finally get them at $2.67. Put them on a sell limit of $2.77 and then keep adjusting it down till eventually we meet at $2.73.

CBA finally crack below $96.00 and try and get 2000 at $95.87 but have to pay an extra cent to complete.

Again, put them on to a higher limit of $93.12 and keep bringing it down. Having said that, they drop more than I liked and then rallied more than I liked but being a Monday, am happy to be up $550.

Now only 1c between the closing price of RIOs and CBA.

Image: Marketech
Image: Marketech

Bought 4,000 ABB @ 2.67
Sold 4,000 ABB @ 2.73 ($240 profit)
Bought 1,000 CBA @ 95.88
Bought 1,000 CBA @ 95.87
Sold 2,000 CBA @ 96.03 ($310 profit)


Tuesday August 30

RIOs get me again today, even whilst getting set in them at $95.66, after their high today was at $97.88 and their day’s low was at $95.40. Could have been worse if not for a late run at the final corner.

Also, BHP below $42 seemed like a good punt, which it was but not that great a profit, for the amount of energy used up by my head.

Finish down $20 on RIOs and up $160 in BHP, who are still pregnant with their dividend, for another day.

Plus $140.

Image: Marketech
Image: Marketech

Bought 2,000 RIO @ 95.66
Bought 2,000 BHP @ 41.85
Sold 2,000 BHP @ 41.93 ($160 profit)
Sold 2,000 RIO @ 95.65 ($20 loss)


Wednesday August 31

Managed to get my work done before 10.30am, market wise. Big mark down in RIOs but then quickly they begin to recover.

In for a penny, in for a pound, as the saying goes. Very quickly get in and out of 2000 RIOs. Then move on to FMG as both RIO and BHP are starting to rally off their lows and FMG is lagging behind.

Buy 2000 FMG and then another 2000. Then on to CBA for a quick trade in 2000. On a roll and have a profit margin already locked in.

Finally out of FMG at 10.18am, so that was that. TAH went XD so had a go in 10,000 but they were very boring to watch, unlike the others, who were very manic in those first 18 mins of trading.

Got bored of them and then headed to the beach. Had a tentative look at my phone at 11am, but thought I am only going to muck up here, so walk away.

Up $880 and a bit sunburnt!

Image: Marketech
Image: Marketech
Image: Marketech
Image: Marketech

Bought 2,000 RIO @ 93.80
Sold 2,000 RIO @ 93.96 ($330 profit)
Bought 2,000 FMG @ 18.33
Bought 2,000 FMG @ 18.31
Bought 2,000 CBA @ 96.27
Sold 2,000 CBA @ 96.38 ($220 profit)
Sold 4,000 FMG @ 18.35 ($130 profit)
Bought 10,000 TAH @ 0.9425
Sold 10,000 TAH @ 0.950 ($75 profit)


Thursday September 1

BHP went XD today.

They closed at $40.60 and today they opened at $37.50. Picked up 2000 at $37.40 which just happened to be their low and sold them very quickly at $37.65.

They were moving around very fast in +/-5c movements and the dividend was U$1.72, so the fall looked too big, hence went straight in at the opening and was out 2 mins later.

Of course they rallied harder but at the end of the day, they opened at $37.50 and closed just 1c higher at $37.51 (with a high of $38.14) on 17m shares, so just happy with one trade today.

RIOs and CBA all had wild rides as well today, with RIOs having a ~$2.00 range and closing on their day’s low, which is not a good sign and CBA’s range was $2.31 and they closed at $96.05.

This means the pricing gap between them was now $96.05 for CBA vs $92.52 for RIO.

Up $500 and happy with that. The market feels like it wants to keep going down and some of the movements have broken away from their more usual and predictable moves.

Image: Marketech
Image: Marketech
Image: Marketech
Image: Marketech

Bought 2,000 BHP @ 37.40
Sold 2,000 BHP @ 37.65 ($500 profit)

Friday September 2

A quiet day for me today. Everything feels like it wants to go down and being a Friday, Wall Street can do anything.

RIOs couldn’t break below $90 and I was waiting to trade them with an $89 in the front, but it never happened, though I did have a go in their poor cousin FMG, which ended up costing me $100.

So today down $100, up $1970 gross or $1601 net. Interesting to see the RIO/CBA blew out with RIOs closing at $90.19 and CBA at $96.95. On Monday their difference was just 1c!

Image: Marketech

Bought 2,000 FMG @ 17.27
Sold 2,000 FMG @ 17.22 (-$100.00 loss)