Well the market played out more or less as we hoped.Do remember to do your own research and to keep short stop-losses upon your warrants as the market is very indecisive at the moment.
We have obviously not heard the last word of the iron-ore/coal saga .
But of those involved EXX is bumping along a near the top,but does not look if it is going to decline any time soon.
On the other hand ACL looks as if it will make a good short.
KIO on the other hand might make a good long ,but not just yet.KIO and ACL almost always in the past traded in tandem. I might take a call position in KIO ,but will wait and see for fresh news.
All overbought at the moment are ACL,AGL,BIL,SAB, IMP and SOL.they might head higher,but that should lead to a sharper sell-off then.
AMS and FSR are stuck halfway and if they move up should be a positive signal .Might be a good idea to wait for the overbought to move down ,as the way things look at the moment they won't go right to the bottom and then reverse up from mid-way ,then a strong bullish signal.
OVERSOLD are MTN,SAP,SBK,OML.
I PARTICULARY LIKE SBK at the moment,the others might bump along the bottom for some time,so watch the news before deciding to enter.
As always only my opinion,things change rapidly in derivitives and one can not be certain of anything.
At the moment I'm holding the index calls ,but with very short stop-losses. Small CapResource Shares are reveiwed on page 2
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