Yeah, it's looking like a rotation again...

Banks down, resources up.

Note the ETFs for overseas markets making new 12-month highs today. The ASX made a new all-time high as well of course.

WTC and PME keep on rising despite their own lofty valuations. Goldies hitting new 12-month highs today included EVN, RSG, FFM, BC8, AUC, RND and MEK.

Copper stock SFR made a new twelve month high also, plus Alcoa (AAI) and Lynas (LYC), Australia's largest pure-plays in bauxite / alumina / aluminium and rare earth oxides respectively.

SGR the biggest loser today of course (-44.44%) after the casino group emerged from their 4-week trading suspension (since late August) with what appeared to be nothing but more bad news. Not good for WLE, who hold them (WLE is my largest real-money position), but the market had already factored in the discount to their NTA and the WLE share price closed flat today. Matt and John at WLE have admitted they shouldn't have bought Star last year so they're busy trying to make that lost money up with other better choices. That's the trouble with buying shares or units in LICs/LITs, managed funds, or ETFs - you are outsourcing the stock-picking to others (to the broader market in the case of an index tracking ETF) - so you don't get to avoid that indirect exposure to companies that you wouldn't personally buy shares in yourself - like casinos in my case. Swings and roundabouts however, as WLE also hold MIN (they confirmed that during Q&A at their last webinar when MIN were in the mid $30s that WLE were building a position again) and I don't own any MIN directly, so I do get some minor indirect exposure to their spectacular rebound.

Better than nothing...

Speaking of which, look at who tops the next table:

The top six performers today across Australia's 50 largest companies are ALL miners, and another two (JHX and AMC) of the top 10 are not miners but are nonetheless still included in the Materials sector (that also includes all of our miners).

Half of the top 10 performers from the next 50 (i.e. numbers 50-100 of the ASX100) were also miners (IGO, LTM, CSC, WHC and YAL) and another one is a metals and minerals testing company (ALS). With energy sector stocks being smashed lately it's interesting to see Ampol in that list on the bottom left above.

And here's the final table - all from MarcusToday.com.au

More of a mixed bag there. A few of the Strawman community's favourite biotechs made some positive moves today, along with a few lithium and smaller iron ore miners and other miners who have been smashed for most of the year, so many are coming off relatively low bases now.

But yeah, congrats to those who took the plunge into MIN in the low to mid $30s (or just below $30 if you were super-sharp) - I think it's fair to say they may have broken their downtrend...