Australian (ASX) Stock Market Forum

Buying the Dip on ASX

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I don't know where we stand at the moment market wise. There's pro's and cons either way. It's a bit of a limbo feeling for me.
Not selling now, and only nibbles on the buys. Hopefully any recent dip buys are starting to pay?

All I know is, life is a sunset clause.
Sunset today in the sticks.

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frugal.rock said:
I don't know where we stand at the moment market wise. There's pro's and cons either way. It's a bit of a limbo feeling for me.
Not selling now, and only nibbles on the buys. Hopefully any recent dip buys are starting to pay?

All I know is, life is a sunset clause.
Sunset today in the sticks.

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Click to expand...
well , i think ( famous last words ) i have done all the selling ( and reducing ) i needed to do

i have 3 'low-ball' top-up orders in the market , and about 10 extra reduction orders just in case , i can always cancel them quickly if need be , because most i really don't want to sell that badly

now i am wondering if this is ' a wall of worry ' we are climbing , i was expecting more down days this month

most likely i will be very cautious looking to 'cherry-pick ' , but not too much ( and am not sure which sectors to target , either )

good luck to those still playing in the market ( this month )
 
I have also done a little trimming of long-term positions, not because I am predicting what's going to happen in the market, but because the Gold sector has run really hard thanks to the POG increasing lately.

So, took some profits and trimmed back positions in NCM, NST. Still waiting for a decent run before taking some off the table in the laggard SLR...
 
Third week in a row of greater than 5% movement. Shame week 2 of 3 movement was negative ?
Hopefully this week past will stick.

Something I have found in trading is; it seems quite common to be able to take a 28.3% (average) profit, and this area seems to be a common resistance area also.
Example, I entered AGY at $0.425 on 24/3/23.
I did see the open on 11/5/23 which was either $0.55 or $0.545, I think the latter.
I could have sold at $0.54 no problems after open, or around that 28% profit point, but chose to ignore and get back into the day job which the market was distracting me from... ?

Hanging in there just. Motley Fools reckon a bull run is around the corner. ?? We'll see, I'm not convinced yet. A melt up before a correction maybe, but I'm just guessing also. At least Monday could be a ripper.

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ASX (stock code) was the number one decliner followed by Ebos in large cap yesterday.

Today, ASX is green while the latter stays on number 2.

Company Performance​





VolumeToday's Change
MEZ2,281-0.130 (-2.52%)
EBO42,930-0.590 (-1.78%)
 
Enter the bull market?

"Bye-bye bear... New S&P 500 bull market has legs - BofA"

au.investing.com

Bye-bye bear... New S&P 500 bull market has legs - BofA By Investing.com

Bye-bye bear... New S&P 500 bull market has legs - BofA
au.investing.com au.investing.com

So, out of 4 weeks sample,
3 up, 1 down.
Not a bad week this week.
I would have been happy with just a flat week as that meant last week's gains held.
For mine, it is looking like a bottom is in. For now.

I note some stocks are still to print a definitive bottom, while many seem to be bouncing off bottoms.

Others are just way up there in cloud territory- can't see blue skies though for most of them IMO, just favourable "safe" harbour's.

This week's result.

Screenshot_20230610-143219-303.png
 
"Investors rethink recession plays, boosting U.S. stock market laggards"

au.investing.com

Investors rethink recession plays, boosting U.S. stock market laggards By Reuters

Investors rethink recession plays, boosting U.S. stock market laggards
au.investing.com

I'm thinking multiple things are normalising or balancing out;
  • Savings to income ratios are similar to pre-plandemic years, indicating plandemic stimulus/savings is now relatively completely distributed,
  • Interest rates and inflation seems to be near a short/ medium term plateau,
  • Interest rate rises and savings ratios indicate the working poor are going to have it tough soon, other echelons not so much, especially as you float to the top,
  • Points of inflection (data) are only known months after, possible market correction cycles ahead on delayed data- trade hard and fast, sit it out or, hold tight. I'm the latter of the 3 at the moment.
  • Oil holding at decent steady levels
  • Media purporting new bull market has arrived, comments such as "all aboard" reverberating,- and this time it's different!
Good luck out there in the small caps shark pool.

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aus_trader said:
Agree with the comments that small cap space is very difficult at the moment.

Some of the Uranium plays are making a comeback though...
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is there enough premium for the political risk to ( profitable ) uranium mining

sure BHP gets away with it because it is 'already in the mix ' in Olympic Dam by-products but many other ( Australian ) uranium miners have been buffeted by headwinds ever since the '70s when logically we should have been tilting towards nuclear power plants
 
divs4ever said:
BHP gets away with it because it is 'already in the mix ' in Olympic Dam
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And BHP itself arguably has a fair bit of clout and influence.

Even the average "man on the street" knows its a company of national economic importance so government will be cautious about standing in the way. They can mine uranium far more easily in that sense than some unheard of junior miner could.

divs4ever said:
logically we should have been tilting towards nuclear power plants
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Business broadly hates the idea and neither side of politics is truly keen so it's an unlikely development in my view unless done as a by-product of a military program. :2twocents
 
So the ASX200 up 2.15% this week beating the XSO up 1.9%, and this portfolio only gained 0.51%.
I'm easy to please and happy recent gains have stuck.
An up week is an up week.

Also bought some BOQ as it looks like a bargain. Will be adding another 3 positions to that over time.

My only comment on the markets is, ? ?

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frugal.rock said:
So the ASX200 up 2.15% this week beating the XSO up 1.9%, and this portfolio only gained 0.51%.
I'm easy to please and happy recent gains have stuck.
An up week is an up week.

Also bought some BOQ as it looks like a bargain. Will be adding another 3 positions to that over time.

My only comment on the markets is, ? ?

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And well done and Oh Happy Days
 
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