All Ords 5111 down 83 pts or 1.6%
The market was very strong this morning, peaking at 5385 pts following the positive lead from US stocks last night, but then slipped away over the remainder of the day. Thankfully the portfolios held up pretty well.
Trading portfolio
A 16.4% rise in SciDev shares (SDV, 42.5¢ up 6¢, $60m) added 8.4% to portfolio value. Here is the hourly chart. The rally continues.
Movements in other stocks added 1.8% to portfolio value. Main influences were BTH +35%, VHT +10%, PPH +6% and CAT +26%.
Long term portfolio
A 3.7% rise in Electro Optic Systems shares (EOS, $4.20 up 15¢, $475m) added 1.1% to portfolio value. Here is the hourly chart, showing it is just holding on to its rally uptrend.
Movements in other stocks added 0.9% to portfolio value. Main influence was EML +23.3%, which by itself added 0.8% to portfolio value. It followed announcement of a revised agreement for its acquisition of Prepaid Financial Services (Ireland) Ltd on much more favourable terms. Here are the weekly and hourly charts. It’s still one of the worst performers in the portfolio but at least the downtrend has been broken.
Other significant influences were CSL -5%, and both MSFT +7% and V +6% in the US overnight.
CSL (CSL, $297 down $16, $135b) has been amazingly volatile in the last few weeks. A real battle of the bulls and bears. Here are the weekly, daily and hourly charts. I had thought it might come back further, given it was testing the upper side of its upchannel, but it has rallied from an uptrend line drawn within the channel.
Phoslock (PET, 51.5¢ up 4¢, $291m)
Here are the daily and hourly charts, showing that the stock has made a new rally high. It would appear that it has the potential in the next week or two to test the main downtrend line, which at present is sitting around 70¢.
Other stocks
No comments today.
New breakouts of interest
None today.
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