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Another week of volatility and winners and losers. I had some luck with PDN after I sold it when it spiked (and before it fell back 26%  - although it recovered to only be down 14%). It seems this was due to investors thinking that if  the Ukraine nuclear reactor has a problem (thanks yet again to Vlad the Impaler) uranium might again be 'on the nose'.

After rising for 5 days the XAO fell off its perch on Friday (I hate Friday trading). While it was down 1.8% at one stage today it recovered to close down only 0.7%. My own trading was up 3.1% for the week.

It’s a coin toss which way the market will go next week but as today’s candle closed above its mid-point I’d be leaning towards prices moving up again come Monday.

CXO is a stock I’ve been looking at as having some promise. I haven’t added it to my Stocks to Watch because of the difficult market (and I’m away from the office for a few days). However, against my own advice of not trading in this market I bought a few CXO this week - only to see it promptly fall back 5%.

There's not much to say about the XAO other than it is just a matter of waiting out this period of uncertainty.


Robert Norman

Phone: 0428 346 951

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