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 November 20

Come into a higher oil price and a not too hot WDS share price, so they just looked so obvious to me.

Then lurking in the background was WTC and they were hovering around the $67 level, having touched $68.15 earlier on.

Both came good though I missed WTC’s first spike after my buy and put them both on a limit. Just closed my eyes and imagined what was a level they could both reach and that was that.

Up $475 on a Monday. Me and Bob Geldof don’t like Mondays.

Image: Marketech
Image: Marketech

Bought 2,500 WDS @ 31.65
Bought 3,000 WTC @ 67.02
Sold 2,500 WDS @ 31.72 ($175 profit)
Sold 3,000 WTC @ 67.12 ($300 profit)

Tuesday November 21

Everything has turned blue on my watch list except for WTC and then SGF popped up as a big faller after a large shareholder sold down a parcel.

Having seen WTC finding support at $67 or should I say a level of interest, below $67 seemed a must. Volume was a bit smaller today than yesterday when I started to get involved.

I just watched them, took my profit and then lo and behold they touched $67 again before collapsing in a heap towards the close. An interesting chart indeed!

Up $540.

Image: Marketech
Image: Marketech

Bought 2,000 WTC @ 66.41
Bought 5,000 SGF @ 2.21
Sold 5,000 SGF @ 2.25 ($200 profit)
Sold 2,000 WTC @ 66.58 ($340 profit)

Wednesday November 22

Got stuck into things after midday, as had to go to a business meeting in the morning with 40 mins of driving either side.

CBA above $104 and RIOs above $128 is what I find. Then we had WTC trading in the 65s so I thought that $66 may be their new $67.

So with BHP and RIOs up, FMG were lagging behind and gave them my best shot, which cost me $100 so ended the day up $240, or should say half-day.

Back full time tomorrow.

Image: Marketech
Image: Marketech

Bought 5,000 FMG @ 25.46
Bought 2,000 WTC @ 65.74
Sold 2,000 WTC @ 65.91 ($340 profit)
Sold 5,000 FMG @ 25.44 ($100 loss)

Thursday November 23

Was travelling along OK with a couple of nice profits under my belt when the iron ore amigos took a tumble, so loaded up RIOs, BHP and FMG.

Having said that, CBA gave me a hard time around that $103 level, which I thought could happen and it did.

America shut tonight and a half-day on Friday, so I suspect things won’t get better than today!

Up $2,130.

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

Bought 5,000 WBT @ 3.59
Bought 1,000 CBA @ 103.11
Bought 1,000 CBA @ 102.95
Sold 5,000 WBT @ 3.65 ($300 profit)
Sold 2,000 CBA @ 103.40 ($740 profit)
Bought 1,000 RIO @ 125.62
Bought 2,000 BHP @ 46.89
Bought 5,000 FMG @ 24.80
Sold 5,000 FMG @ 24.91 ($550 profit)
Sold 1,000 RIO @ 125.94 ($320 profit)
Sold 2,000 BHP @ 47.00 ($220 profit)

Friday November 24

With no lead from America, thanks to their Thanksgiving holiday, not expecting too much action.

A coffee customer and fellow trader of shares suggested I should add CSL to the watch list today. Gave them a crack and ended up down $125 in them, having been up $170 at some point.

So, starting to get a feel for them, though the commission is a big factor, hence my loss as my limit sell order was too high and so I rode them till the death.

WTC had a tumble and traded in the $62s which is down about 8% from Monday’s trading level.

Went a bit gingerly on the size but still got out handsomely, so a nice end to the week for me but not for all of those turkeys.

46m they reckon were eaten last night.

That’s a lot of gravy. Talking of gravy, that’s up $515 today and $3,900 gross or $3,408 net for the week.

See you all on Monday!

Image: Marketech
Image: Marketech

Bought 1,000 WTC @ 63.14
Sold 1,000 WTC @ 63.78 ($640 profit)
Bought 500 CSL @ 258.34
Sold 500 CSL @ 258.09 ($125 loss)