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 September 26

Blood on the streets today and some of it was mine.

Went a bit early on some, left what I thought were cheeky limits and got hit on them all.

Some good but in RIOs it turned out to not be so.

Finished the day down $1,720 so it felt like I’d been conscripted to sit in a Russian tank in the Ukraine, with one day’s training.

I mean, RIOs closed on Friday at $93, so getting set on 1000 at $89.42 seemed like a good idea at the time.

Then another 1000 at $88.40 and finally another 2000 at $87.79, before they closed at $87.78, which is down a massive $5.22 on the day – 5.88%. They actually touched $87.60 FFS!

The charts tell my story. I cut the BHP, so my exposure to miners was levelled out a bit. CBA closed up $1.00 from their opening price. At their closing level of $93.61, their gap above RIO’s is $5.83.

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

Bought 1,000 RIO @ 89.42
Bought 2,000 BHP @ 36.89
Bought 1,000 RIO @ 88.40
Bought 2,000 BHP @ 36.50
Bought 2,500 FMG @ 15.89
Bought 1,000 WDS @ 29.75
Sold 2,500 FMG @ 16.09 ($500 profit)
Sold 1,000 WDS @ 29.98 ($230 profit)
Sold 4,000 BHP @ 36.65 ($170 loss)
Bought 2,000 RIO @ 87.79
Sold 4,000 RIO @ 87.78 (-$2,280 loss! Gah!)

Tuesday September 27

Get back on the horse today with some CBA. Always hard after making a loss to come in the next day, as you could easily compound it!

So feeling nervous from the start but after booking the first profit, start to relax. All of yesterday’s losers of course go up today. RIOs go back above $90!

So, CBA is the one moving around a bit. In fact all of the banks are moving around though BHP was a quick one for the end of the day.

The charts tell the stories for today.

Plus $1460 today, so clawing it back a bit today.

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

Bought 2,000 CBA @ 93.25
Sold 2,000 CBA @ 93.43 ($360 profit)
Bought 1,000 CBA @ 93.01
Sold 1,000 CBA @ 93.39 ($380 profit)
Bought 2,000 NAB @ 29.27
Sold 2,000 NAB @ 29.35 ($160 profit)
Bought 5,000 ANZ @ 22.99
Sold 5,000 ANZ @ 23.05 ($300 profit)
Bought 1,000 CBA @ 93.19
Sold 1,000 CBA @ 93.31 ($120 profit)
Bought 4,000 BHP @ 36.97
Sold 4,000 BHP @ 37.01 ($160 profit)

Wedensday September 28

Start my trading day off as CBA head towards $92.00 and RIOs breaking down below $90.50 and also FMG breaking below $16.47.

Put in some lower limit buys in CBA and RIOs, just in case they break down below more support levels, which of course they do, so the old P/L looking a bit sick.

Then in between all of my pain, CXO pop up as a big faller. I had noticed them yesterday, but the fall and volume involved caught my attention.

In for a penny, in for a pound I say in my head as I join the queue to buy for 25,000 at their (then) day’s low. As soon as I get hit, put them on 2c higher and bingo, $500 profit in 3 mins.

Decide to buy some NAB as don’t want to add to my CBA disaster. Then finally the sun appears from behind my trading positions and out go the two banks, CBA and NAB for a combined profit of $380.

Then back in for some more FMG and also go for some BHP. Calling the three iron ore plays, RIO, BHP and FMG the ugly sisters as no one wants to take them home. Only me!

Eventually they slap on some more make up and become attractive and I let them go. Even selling the RIOs for a small profit relieves some pressure and combined the ugly becomes a $635 profit.

Then finally, just before the close, WDS are heavily sold down and go for a quick turn of 5c which comes in with 3 mins to spare.

If you want to see a short squeeze, see the CBA chart for their end of day surge. AMAZING!

Up $1615. Should start off every week with a loss as it seems to have spurred me on. Now for a single malt on the balcony.

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

Bought 1,000 CBA @ 92.07
Bought 1,000 RIO @ 90.31
Bought 2,500 FMG @ 16.47
Bought 1,000 CBA @ 91.89
Bought 1,000 RIO @ 89.85
Bought 25,000 CXO @ 1.070
Sold 25,000 CXO @ 1.090 ($500 profit)
Bought 2,000 NAB @ 28.86
Sold 2,000 CBA @ 92.13 ($300 profit)
Sold 2,000 NAB @ 28.90 ($80 profit)
Bought 2,500 FMG @ 16.27
Bought 2,000 BHP @ 37.26
Sold 2,000 BHP @ 37.35 ($180 profit)
Sold 5,000 FMG @ 16.45 ($375 profit)
Sold 2,000 RIO @ 90.12 ($80 profit)
Bought 2,000 WDS @ 30.67
Sold 2,000 WDS @ 30.72 ($100 profit)

Thursday September 29

Not much to see here today. Only get a change in CBA and ANZ as everything else is not behaving how we like.

CBA had two nose dives, for whatever reason, the first just after 11.30am and the second one just before the close. ANZ did the same as CBA just before the close, so just went for a quick on that worked.

Up $380 gross for the day.

Image: Marketech
Image: Marketech

Bought 1,000 CBA @ 93.32
Sold 1,000 CBA @ 93.43 ($110 profit)
Bought 1,000 CBA @ 93.42
Bought 5,000 ANZ @ 23.37
Sold 5,000 ANZ @ 23.40 ($150 profit)
Sold 1,000 CBA @ 93.54 ($120 profit)

Friday September 30

All the headlines scream for a fall today but RIO obviously didn’t get the message. CBA did and I put in what I thought was a low limit but still got caught out.

Got 2000 at $90.90 and just missed selling them by 2c on a limit at $91.15 and paid the price for hanging in too long and had to cut them in 4.10pm ruck.

ANZ got a nibble in first and a double down on a limit but I never really got a chance and also had to cut in 4.10pm ruck. Both positions cost me a loss of $400 in each, so started and end the week with trading losses.

Overall, down $800 today and for the week up $935 gross, which comes in at minus $15 net overall.

Minus $15 after all that effort! 46 trades in total and a bit numb struck but next week should be better, I tell my quickly emptying beer glass.

Image: Marketech
Image: Marketech

Bought 2,500 ANZ @ 22.97
Bought 2,000 CBA @ 90.90
Bought 2,500 ANZ @ 22.79
Sold 5,000 ANZ @ 22.80 (-$400.00 loss)
Sold 2,000 CBA @ 90.70 (-$400.00 loss)