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 Feb 27

Here we go. Off to a good start to the week, with FMG going ex div 75c fully franked, which equates to $750m for Andrew Forrest to put in his wallet.

As for me, they give me $120 on one trade and take away $80 in the closing match, so I’m chasing him!

RIO’s are racing downwards, so catch some for a bounce and one of our old faves, Aussie Broadband, falls down to 10% before recovering, so also pick some up for the bounce.

Finally Downer come onto the radar screen and I have a little nibble, then another nibble and then a big bite, awaiting their bounce which happens at 3.58pm. Straight down to the wire.

FMG go out again at 4.10pm and also have a late surge.

Up $400 with a couple of escapes at the end.

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

Bought 2,000 FMG @ 21.05
Bought 1,000 RIO @ 116.22
Sold 2,000 FMG @ 21.11 ($120 profit)
Bought 2,000 ABB @ 2.74
Sold 2,000 ABB @ 2.81 ($140 profit)
Sold 1,000 RIO @ 116.37 ($150 profit)
Bought 2,000 DOW @ 3.12
Bought 2,000 FMG @ 20.95
Bought 4,000 FMG @ 20.76
Bought 2,000 DOW @ 3.03
Bought 8,000 DOW @ 2.99
Sold 12,000 DOW @ 3.02 ($70 profit)
Sold 6,000 FMG @ 20.81 (-$80 loss)

Tuesday Feb 28

Not much happening today. Hardly Normal came out with some results which the market didn’t like and even though 19m turned over, they were so slow to move.

Finally got a profit in them with a few minutes to go.

Woodside was amazing. Opened at $35.33, had a low of $35.28 and a high of $36.15 and 8.9m shares went through. I got in at 11.18am and at 12.30pm, they took off like a rocket to the moon.

Booked an 11c turn and watched them keep going and through $36.00 before closing at $35.91.

Up $170 and bored.

Image: Marketech
Image: Marketech

Bought 1,000 HVN @ 3.76
Bought 1,000 WDS @ 35.76
Sold 1,000 WDS @ 35.87 ($110 profit)
Sold 1,000 HVN @ 3.82 ($60 profit)

Wednesday March 1

I only have eyes for CBA today, as they move below $100. They opened at $99.95, had a high of $100.37 and closed on their low of $99.05 on 2.58m shares.

Watched them open and start to slide and when they crack below $100, put on a limit buy for 1000 at $99.54, which at the time looked a bit mad, but coming into 11.00am, I thought there could be a chance.

Just before 11.00am, my limit order gets triggered and they keep falling to the $99.35/30/27 levels for about 15 mins and as they settle I go again and wait for a bounce.

At bang on 11.30am, it comes and they spike on a bit of a short squeeze and out they go at $99.80 and that’s it for the day.

All of the banks felt sick today and felt like they all wanted to go lower, as economic news filters through over the day.

CBA closed at their low, as did NAB and the other two were very near their lows.

Up $620.

Image: Marketech

Bought 1,000 CBA @ 99.54
Bought 1,000 CBA @ 99.44
Sold 2,000 CBA @ 99.80 ($620 profit)

Thursday March 2

Started the day today like a boat owner, happy, and ended the day beached up on the sand waiting for the tide to come in, which it never did.

Got in very early with 1000 CBA at $99.05 and knocked them out for a nice 26c turn. Basking in the sun, I waited and waited for CBA to really crack lower.

Had an outrageous limit buy order in below $$98, which came in and I thought I would be sailing into a $200 odd profit, but then the wind came up and blew me right off course and towards the rocks.

I didn’t think I would be typing these words, having gone long at $97.90 but I managed to book a loss of $680 and cut them just before the close.

I did say the banks were feeling a bit sick yesterday and today I joined them.

Managed to lose $420 and CBA’s day range was between $99.60 and $97.07 and just like yesterday it closed on its low.

Far out. Maybe they could touch $95 this week?

Image: Marketech

Bought 1,000 CBA @ 99.05
Sold 1,000 CBA @ 99.31 ($260 profit)
Bought 1,000 CBA @ 97.90
Sold 1,000 CBA @ 97.22 (-$680 loss)

Friday March 3

Had my work cut out trying to make up for yesterday’s loss.

Little turns were all added to the pot, as happy to keep replenishing the well.

Bloody WDS floundered around and then took off and kept going after I sold them. Their range today was $38.00 to $37.45 on 4.2m shares.

ANZ gave a quick profit, then got into CBA at $97.58 and had to wait till late afternoon for them to rally towards the $98 level.

Whilst CBA were giving me heartburn, used 1000 NAB as my hedge when they were below $29.00. After selling the NAB for a 8c turn, ARU came up on the radar.

Their volume was big, like 24m at the time I got stuck in and they were down 11%. At the end of the day, their turnover was 48m.

With a A$1.15bn mkt cap, they popped up on my biggest large cap falling list, so please don’t think I’m now trading the penny dreadfuls.

These situations may pop up once a month or so and you have to do a bit of queue waiting to get out.

Anyway, finish the week up $1,360, having made $590 today, so all up plus $954 net.

Bit of a wild week thanks to CBA below $100 and a couple of profit reporters adding to the volatility, making it an interesting week indeed.

I feel things will only get softer next week.

Image: Marketech
Image: Marketech
Image: Marketech

Bought 1,000 WDS @ 37.54
Bought 2,000 ANZ @ 23.69
Sold 2,000 ANZ @ 23.75 ($120 profit)
Bought 1,000 CBA @ 97.58
Sold 1,000 WDS @ 37.63 ($90 profit)
Bought 1,000 NAB @ 28.90
Sold 1,000 NAB @ 28.98 ($80 profit)
Bought 10,000 ARU @ 0.535
Sold 10,000 ARU @ 0.545 ($100 profit)
Sold 1,000 CBA @ 97.78 ($200 profit)