The Aussie resource stock roller-coaster continued today, as ten of the top 20 stocks by market capitalisation traded higher, with the other ten lower.
Most interestingly - price volatility is high.
Four of the gainers were up by more than 1.7%, with five of the losers down by more than 1.7%.
This is especially interesting considering the broader market was fairly stable, with the All Ordinaries shedding 30 points to 4561.
This highlights that although investors are considering some of the large resource stocks to be oversold, this is not across the whole sector.
The big mover was Paladin Energy (ASX: PDN) which rallied 10.4% to $2.66 as investors re-entered the uranium focused stock, which has been heavily sold off in the last two months.
Gloucester Coal (ASX: GCL) rallied 2.4% to $8.45, with New Hope Corporation (ASX: NHC) well supported adding 1.8% to $5.10 while Mount Gibson Iron (ASX: MGX) gained 1.7% $1.77.
Ending the day in the green, but rising by less than one per cent was Lynas Corporation (ASX: LYC) $2.04, Equinox Minerals (ASX: EQN) $7.94, Atlas Iron (ASX: AGO) $3.45, Macarthur Coal (ASX: MCC) $10.63, Aurora Oil & Gas (ASX: AUT) $3.31 and Rio Tinto (ASX: RIO) $80.00.
Leading the south-bound brigade was mineral sands focused Iluka Resources (ASX: ILU) which fell 3.2% to $16.66, while Oil Search (ASX: OSH) was off 2.7% to $6.45.
Heading into the red by more than one per cent was Alumina (ASX: AWC) $2.11, Resolute Mining (ASX: RSG) $1.09, Woodside Petroleum (ASX: WPL) $40.40 and OZ Minerals (ASX: OZL) $12.70.
Easing by less than one per cent was BHP Billiton (ASX: BHP) $42.04, Santos (ASX: STO) $13.37, Fortescue Metals Group (ASX: FMG) $6.06 and Newcrest Mining (ASX: NCM) $36.85.
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