Confessions of a Day Trader: Inflation’s coming. Get yourself a nice, safe bank job

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: $10 (previously $40 on alternative platform)
Rules of engagement: Never hold any positions overnight (unless forced) and try to avoid any suspensions (if possible). No shorting.
 

Monday November 8

Manage to lose $360 in VUL and $110 in MIN and make $260 in CBA and $125 in Z1P, but today’s star was APT.

Buy 1000 at $115.54 and sell them at $116.17 (+$630) bringing in a nice Monday start at +$545 for the day.

Had to rush around today and time is against me, so see charts for full details. Thanks.

Tuesday November 9

It’s all about the banks today, plus a late go at RIOs just to balance out things a bit.

Buy 2000 NAB at $28.34, 3000 WBC at $22.74 and 1000 CBA at $109.24.

CBA behave themselves okay, so manage to sell the 1000 at $109.54 (+$350) and the NAB do so as well. Sell the 1000 at $28.51 (+$340) but WBC going the other way.

Cut the WBC at $22.69 (-$150) and then go for a late trade in RIOs. Buy 1000 at $88.94 and sell them quickly at $89.28 (+$345)

Leaves me up $885 for the day.

Wednesday November 10

Fancy CHN for a run at $10.00 today. Buy 2000 at $9.28, 2000 at $9.18, 2000 at $9.12 and just to prove myself completely wrong, top up with 6000 at $9.02. Manage to sell them all at $9.13 (+$280) which is a result, but not how I expected it to be.

In between banging the buy button on CHN, I sneak in an in ‘n out in CBA. In for 1000 at $108.88 and out at $109.03 (+$225) and put in a charge at MIN. Buy 3000 (as late in day, so gear up) at $37.02 and sell them at $37.05 (+$90). Not much of a profit after commission but I will take it.

Plus $595 for today.

Thursday November 11

Inflation news sends up bond yields overnight and leads us into a volatile day. Deciding to leave everything alone today, as trying to be a hero on a day like this, normally ends in tears for me.

Also had a second jab, so I want to rest myself.

Have added a few charts.

Look at the range in CBA. I think it’s some kind of record – $2.75 in a day is outrageous. CHN reach the $10.00 today, so only a day out on 12,000! Oh well. One more day to go.

TGIF November 12

All eyes on RIO and BHP today, as RIOs were up 6% in NY trading. Both open up at their day’s high, or just near them, and then both get sold down.

RIOs quickly came back over $100 and fell below $93 and started trading in the $92s.

Was only really meant to be watching but just seemed too tempting. Buy 1000 at $92.80 and sell them into a post-11.00am rally at $93.40 (+$600).

They are moving around very fast and then fall again below $93. Buy 1000 at $92.83 this time and sell them at $93.11 (+280).

Happy to leave everything alone and chill but can’t help myself after lunch and take a peek. Well, RIO heading to almost touching $92 and BHP were getting dragged down with them. Buy 1000 RIO at $92.15 and 2500 BHP at $37.58.

Sell the RIOs at $92.43 (+$280) and sell the BHP at $37.65 (+$175).

So, Tuesday was all about the banks and today was all about iron ore producers.

Maybe Monday will be all about APT and Z1P? Anyway, up $$1,335 today and $4,668 (+$4,103 net) for the week and that includes taking a break on Thursday.