Graeme NewingMonday 15 June Today I applied for some shares in Eureka Group Holdings (EGH, price 53¢, mkt cap $95m) at 45¢ pursuant to the Shareholder Purchase Plan (SPP). I had sold the shares a week or two ago ex entitlement, and received the application form in the mail last week. The offer closes on Thursday this … Read more
Monday 15 June Today I sold the holding in Pacific Niugini (PNR, price 7.0¢, mkt cap $27m) at 6.9¢. On Friday the stock fell though a short term uptrend line. I had bought the shares in April at 8.4¢ so the sale realised a substantial loss.
Sunday 14 June I bought into PXS on Friday and yesterday published a brief note to highlight the transaction, including the latest chart. Today’s update is intended to give you a flavour of the fundamentals. Pharmaxis Ltd (PXS, price 23.5¢, mkt cap $74m) is a junior pharmaceutical company with a focus on products for chronic … Read more
Saturday 13 June Yesterday I sold out of Talga Resources (TLG, price 39¢, mkt cap $54m) at 39¢ and bought shares in Pharmaxis (PXS, price 23.5¢, mkt cap $74m) at 23¢. I bought TLG on 11 May at 47¢. It wasn’t a breakout at that time but I was overcome with optimism that it would … Read more
Thursday 11 June Today I bought into Resonance Health (RHT, price 4.7¢, mkt cap $19m) at 4.7¢. The shares had broken out of a downtrend in late April and have since been consolidating. I have included below a short term chart and a long term chart. Click on them to see the detail. Resonance develops medical … Read more
Wednesday 10 June Today I sold out of Cynata Therapeutics (CYP, price 84¢, mkt cap $55m) at 81¢, well below the $1.20 I paid in February. The stock had fallen out of a triangle, albeit on low volume, so I thought it was safer to sell. There is good support at 68¢ dating from the … Read more
Wednesday 10 June Yesterday I sold the remaining Pro Medicus (PME, price $2.18, mkt cap $219m) at $2.14. I had bought them at $1.11 in November and had sold half at $2.27 in May when the shares came close to the underside of an upper trendline of an upchannel. Since then PME have fallen through a short … Read more
Sunday 7 June Commodities Gold (US$1,165) continues to look bearish, and base metals likewise. I remain neutral on oil and iron ore. The latter hit a new rally high of US$63.80 but that doesn’t necessarily mean anything. Coal remains in downtrend. Currencies The US dollar index is consolidating in the 93-100 range. It fell marginally during the week. Against … Read more
Monday 8 June Today the market is closed for a statutory holiday. In the past week EGH was sold and RFX was purchased, and details of these transactions are provided on earlier posts. The value of the portfolio fell during the week, with the year-to-date gains falling to 38% from 42%. The biggest holding AZK … Read more
Wednesday 3 June Today I sold the remaining holding in Eureka Group Holdings (EGH) for 54.5¢ and will consider buying them back at 45¢ in the SPP for which books close Wed 10 June. I had sold half the holding at 56¢ on 26 May. Both sales saw a nice profit as I had purchased them in November at … Read more
Wednesday 3 June Yesterday I bought back into Redflow (RFX) at 25¢. I had sold them at 24¢ in March after they broke an uptrend line, and realised a small loss at the time. Last week they broke the short term downtrend line from their peak. Hopefully there will be a profit this second time around. With 336.5 million … Read more
Sunday 31 May Futures Again, there is no change to views for futures markets. Some comments: The A$ (at 76.49 US¢) continued its pull back from the peak of 80.14 US¢ achieved earlier this month. However, it is too early to declare the rally over – a break of 75¢ would be required for that. The fall … Read more
Sunday 31 May The portfolio gain YTD increased from 39% to 42% over the week, so it was a good performance. There were quite a number of transactions. The entire holdings in ABX, CNX, CVT and ALU and half the holdings in CLQ and EGH were sold, and the positions in AZK and SFI were increased. AZK is now … Read more
Friday 29 May Today I sold the remainder of my Altium (ALU, $4.74) at $4.785 and added to my holdings of Aziana (AZK, 23.5¢) at 22.5¢ and of Spookfish (SFI, 7.1¢) at 6.6¢. For once I got it right on the day – the stock I sold went down and the stocks I bought went … Read more
Thursday 28 May Today I attended the AGM of Audio Pixels (AKP, $9.50). Nothing dramatic came out of it and the shares responded appropriately by doing nothing much (up 40¢). I suppose one new snippet is that the company believes phase 4 will take a shorter time period than the 9 months that phase 3 took … Read more
Thursday 28 May Recent price action is potentially bullish but what it needs is a rise on volume to confirm that the recent consolidation was a halfway pennant. Am watching, waiting and hoping.
Thursday 28 May Spookfish (SFI, 6.7¢) jumped 1¢ today and broke a short term downtrend. I may double up tomorrow.
Wednesday 27 May I sold the Australian Bauxite (ABX) shares today, as they seem to have lost momentum. I received 31¢ per share which represents a loss of 3¢ on the purchase price of 34¢.
Tuesday 26 May Today I hold half my holdings in these two stocks because they were at the upper trendline of channel formations, both for substantial gains. I sold Clean Teq (CLQ) at 27¢ (purchase price 7.8¢) and Eureka Group (EGH) at 56¢ (purchase price 29¢).
Monday 25 May This morning I sold the holdings in Carbon Energy (CNX) at 2.1¢ and in Covata (CVT) at 42¢. I had made my decisions last night based on breaks of support but unfortunately both shares fell on the opening. Significant losses were made on each – I had purchased CNX just last week … Read more
Sunday 24 May I thought I would share some thoughts with you on my portfolio stocks. Australian Bauxite (ABX, 33¢) is stuck in a trading range. It is scheduled to make its first shipment soon (in July?) and that might create some interest. Audio Pixels (AKP, $9.70) has to break $14.50 to become truly exciting, but it … Read more
Friday 22 May I bought back into Aziana (AZK) today at 21.5¢, which is where it closed. I feel the shares are on the verge of breaking out from the downtrend since the high of 62.5¢ on 28 April. We will see.
Wednesday 20 May I sold half the holding in ProMedicus (PME) at $2.27 and bought into Carbon Energy (CNX) at 2.9¢. I had purchased PME in November last year at $1.11 so it was a good profit. The decision to sell was partly to clear the decks for new purchases and partly because the shares were … Read more
Tuesday 19 May Today I sold half the Altium (ALU) holding at $4.95 and all of the Ensogo (E88) holding at 18.5¢. The motivation in the case of ALU was partly to take some profits to free up more funds for new acquisitions. Both stocks had broken uptrends some days ago but until now I was … Read more
Tuesday 19 May Yesterday I bought some shares in Rhinomed (RNO) at 5.2¢ and they finished the day at 4.5¢. Not good timing. I commented on the shares in another post today.
Sunday 17 May I look at charts for my portfolio stocks and a few others each day, plus my charting system does a database search for breakouts daily, but otherwise I look at many charts, including those of certain commodities, just once a week; otherwise it would take too much of my time. So here are … Read more
Friday 15 May Today I bought shares in Service Stream Ltd (SSM) at an average of 25.9¢. They had broken upwards yesterday from a multi-year downtrend AND from a 2 year bottom formation. Double click on the chart below to see more detail. SSM has 386m shares on issue and at yesterday’s closing price has a … Read more
Thursday 14 May I bought back into two stocks today, Capitol (CAJ) at 94.5¢ and Spookfish (SFI) at 6¢. I had sold them earlier in the year, CAJ at 94.5¢ (yes, at the same price) and SFI at 5.5¢, when they broke short term support. I feel that, technically, the risks are now reduced. I guess I … Read more
Wednesday 13 May I sold the holding in Actinogen (ACW) this morning as it had broken its uptrend yesterday. Unfortunately I only got 8.3¢ for them, way lower than yesterday’s close of 8.6¢, and they closed today at 8.4¢. I had bought them in January and February at an average price of 5.8¢ including brokerage, so it was a reasonable … Read more
Monday 11 May Today I bought shares in Talga Resources (TLG) at 47¢, thereby breaking my rule of only buying breakouts (TLG needs to break above 50¢ to qualify). But I do feel the story is a good one. TLG has 138.4 million shares on issue and 19.6 million options mostly with a strike of between 35¢ and … Read more