Daytrading November 4 afternoon

Thanks Brit and morning crew.


Half-time round-up:

Australian shares improved for a second day before paring gains as upbeat trade and retail data dulled the likelihood of another cut to the cash rate.

At 1pm EST the ASX 200 was trading 40 points or 0.8% ahead at 5279 but well below the session high of 5314. While gains were seen across the board, the best returns came in metals & mining +2.1%, materials +1.5%, property trusts +1.2% and energy +1.1%.

“We still have some uncertainties over when US interests rates will start to climb but it seems the clouds of pessimism around China’s economy are starting to clear,” Michael McCarthy, chief market strategist at CMC Markets, told Bloomberg. “It’s unlikely we’ll see a hard landing in China. There’s been demonstrated commitment from authorities in China to underpin the economy. We’re certainly seeing good support for risk assets.”

Exports surged 3.4% during September, helping slash the trade deficit to $2.32 billion from $2.71 billion in August. Retail sales increased 0.4% over the same month for a fifth straight gain.

China's Shanghai Composite rallied 1.34%, Hong Kong's Hang Seng 1.83% and Japan's Nikkei 2.15%. Dow futures were recently ahead by 12 points or less than 0.1%.

Crude oil futures were last at US$47.75 a barrel. Spot gold was at US$1,122 an ounce. The dollar was buying 72.01 US cents.


Trading: got power back at 10.05am, which is about the worst time possible because you dive in cold, jump around trying to do a hundred things at once and make rushed, uninformed decisions. The one share I held overnight - NTC - tanked from the open, so I bailed at a substantial loss at a point where I might normally be thinking of buying. If the power cut had lasted a couple of hours longer, I might now be exiting at a profit. Oh, the irony. Clawed back some of the loss with quickies in RMS and BRN.