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 July 3

Got my first profit for the week under my belt and then it was all plain sailing from there. AZS popped up on my screen as a big faller.

They recovered for a bit and I managed to get myself involved and even had to double down, before they took off. After I sold them at $1.435 they managed to hit $1.49.

Same went for BHP and CBA. Sold CBA at $100.08 and they promptly went to $100.50. Sold the BHP at $44.92 and they then went to $45.25.

Just had to have a go at NHC in the last part of the day – see chart – and you will see why. Cost me $50, so it really was a heads or tails trade.

Plus $735.

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

Bought 1,000 BHP @ 44.81
Sold 1,000 BHP @ 44.92 ($110 profit)
Bought 1,000 CBA @ 99.89
Sold 1,000 CBA @ 100.08 ($190 profit)
Bought 5,000 AZS @ 1.425
Bought 5,000 AZS @ 1.380
Bought 2,000 FMG @ 22.12
Sold 10,000 AZS @ 1.435 ($325 profit)
Sold 2,000 FMG @ 22.20 ($160 profit)
Bought 5,000 NHC @ 4.88
Sold 5,000 NHC @ 4.87 ($50 loss)

Tuesday July 4

America shut tonight and it’s the 2.30pm CBA rate call today as well. I don’t think rates will be going up but we shall see.

Get a couple of trades in as we head to the 2.30pm zone and CBA have just been sitting steady around the $100.60 level for over an hour and a half.

If I get some at this level and they fall, I work out that I have a 66c buffer from the morning session, so in I go and wait.

No rate rise at 2.30pm and they take off like a rocket. I scramble with my thumbs to set up my selling order on my phone and by the time I manage to hit the sell button, I’m up 75c.

CBA’s range today was $100.42 to $102.40 and RIOs had a massive range of $113.38 to $116.11. So, today was all about the banks and not the miners. With America shut, I feel that the miners will recover tomorrow.

Up $1,410 and loving today.

Image: Marketech
Image: Marketech
Image: Marketech

Bought 1,000 CBA @ 100.70
Sold 1,000 CBA @ 100.96 ($260 profit)
Bought 5,000 AZS @ 1.375
Sold 5,000 AZS @ 1.455 ($400 profit)
Bought 1,000 CBA @ 100.60
Sold 1,000 CBA @ 101.35 ($750 profit)

Wednesday July 5

CBA and the other banks did the opposite of yesterday and CBA were dropping back heading into 11.00am so just had to buy some and wait for the rebound.

Still not trusting CBA’s share price up here and you need to see their chart at the close! Finger-burning stuff.

Having seen RIO’s range yesterday, I was looking at them around the $114.20/30 level, when they took a bit of a dip towards $114.00.

Picked some up but should have waited, though I was looking at the clock as a buying point more than the price, to be honest.

They eventually came good and out they went as they were heading to $114.50, after causing me a bit of indigestion.

Plus $520.

Image: Marketech
Image: Marketech

Bought 1,000 CBA @ 101.65
Sold 1,000 CBA @ 101.84 ($190 profit)
Bought 1,000 RIO @ 114.14
Sold 1,000 RIO @ 114.47 ($330 profit)

Thursday July 6

Busy, busy day today. A couple of losses had to be taken, especially in CBA because we ran out of time!

With RIOs though I just had to cut them and then go back in later. Have been saying that I don’t trust this market and today, with no new general market news around, things just drifted, especially in the last two hours of trading.

Went on a buying spree after things went a bit nasty. Closed my eyes and just went for it. BHP, RIO and FMG all did me proud but CBA let me down.

Up $840.

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

Bought 1,000 RIO @ 112.87
Sold 1,000 RIO @ 113.11 ($240 profit)
Bought 1,000 RIO @ 112.76
Bought 1,000 CBA @ 100.83
Sold 1,000 CBA @ 101.06 ($230 profit)
Sold 1,000 RIO @ 112.65 (-$110 loss)
Bought 1,000 CBA @ 100.70
Bought 1,000 RIO @ 111.98
Bought 2,000 FMG @ 21.59
Bought 1,000 BHP @ 43.78
Bought 1,000 CBA @ 100.36
Sold 2,000 FMG @ 21.78 ($380 profit)
Sold 1,000 BHP @ 43.91 ($130 profit)
Sold 1,000 RIO @ 112.15 ($170 profit)
Sold 2,000 CBA @ 100.43 ($200 loss)

Friday July 7

Did nothing today, as was scared I might get caught out by being long at the wrong time. With 10-year bond yields touching 4.26%, I think that some prices are too high.

CBA, in my opinion, should be trading at $93.00 and yet they keep hanging around that $100.00 level. Well, not today did they? Their range was a high of $99.42 and a low of $98.41. At its last price of $98.73, it was down $1.70.

RIOs had a range of $111.94 to $110.14 and last trade was $111.75 which is down 83c on the day. They also should be a bit lower in my opinion.

Anyway, was happy to just take a break and another look at things on Monday morning at 10am sharp!

Image: Marketech
Image: Marketech

Up $3,505 gross or $3,021 net, so some mixed results this week plus a day missing. Not too shabby and as I said above, expecting more weakness next week.