Graeme NewingTuesday 30 June I had some unfilled sell orders left over from yesterday. All the RHT were done today at 4.2¢ and a bit under half of the SRQ at 1.2¢. The portfolio finished the financial year with overall gains of 31% and a cash position of 48%. Tomorrow I start with a clean slate.
Monday 29 June I sold out of all of the above positions today. It was a poor day on the market and some of them broke short term support. Also I felt I should increase my cash holdings ahead of Europe’s reaction to Greece, just in case.
Tuesday 23 June Today I sold the holding in Capitol Health (CAJ, 77¢, mkt cap $418m) at 76¢ because yesterday it closed at 80.5¢ and thus broke support at 82¢. I had bought them at 94.5¢ in May so it was certainly disappointing. But I couldn’t take the risk of further weakness – one interpretation is … Read more
Tuesday 23 June Ziptel (ZIP, price 82.5¢, mkt cap $45m) had been one of my favourite stocks, but in the last couple of days it has collapsed, falling from Friday’s close of $1.04 to as low as 74¢ today, before rallying to close at 82.5¢. The trigger was an announcement by the company on Monday. … Read more
Tuesday 23 June Leaf Resources (LER, 15.5¢, mkt cap $18m) is one of my longer-held stocks. I had bought them in November through March at an average price of 19.1¢ including brokerage and they hadn’t done a lot since then, just consolidating on low volume. Yesterday they finished at 15¢. There was a bit of excitement … Read more
Sunday 21 June The portfolio’s value declined during the week, such that the percentage gains for the year to date fell to 34% from 38%. The main reason for the fall was the weakness in AZK, which had closed the previous week at 21¢ but fell like a stone once it broke support at 20¢. I finally sold it … Read more
Friday 19 June Today I sold out of CSG Ltd (CSV, price $1.57, mkt cap $446m) at $1.56. The stock is looking a bit toppy to me, having hit the top of its medium term upchannel at $1.73 on 1 June and it has more recently broken its short term uptrend. Its medium term uptrend is … Read more
Friday 19 June Today I sold the position in Aziana (AZK, price 14¢) at 14.5¢. I commented on AZK yesterday, confessing that I got it wrong from a trading point of view. I should have sold it at 19¢ on Wednesday when it broke key support but felt I would give it the benefit of the … Read more
Thursday 18 June Shares in Aziana (AZK, price 15¢) dropped like a stone today, falling 3.5¢ to 15¢. Unfortunately I didn’t sell. I got to the desk a little late, to find them at 16.5¢ already and I froze. Badly handled. I should have taken my medicine like a man. What a wimp! AZK is being … Read more
Wednesday 17 June Today the shares in Aziana (AZK) broke through support at 20¢ and fell 3¢ to 17.5¢. If I apply my normal investment strategy I should sell tomorrow. The fall came after an announcement made today by Aziana, explaining the delay in calling the meeting to approve the Brainchip deal, being negotiation of amended terms … Read more
Tuesday 16 June Shares in Aziana (AZK, price 20.5¢, mkt cap $43m at present but see below) are becalmed on low volume in sharp contrast to the frenzied trading of a few weeks ago. In the last week or so AZK has been hugging the support provided by a gently rising line drawn across the bottoms of recent trading. That line is … Read more
Monday 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¢).