daytrading sep 19 afternoon

Thanks Endless.

Half-time round-up:

Australian stocks edged higher with most Asian markets this morning after China's central bank governor pledged to maintain supportive monetary policy.

At lunchtime the ASX 200 was up 10 or 0.2% at 4405. I.T. +1.7% and gold +1.6% were the pick of the sectors. Energy, down 0.3%, was the only sector to lose ground after a second night of declines in the price of crude.

Most Asian markets recouped some of yesterday's losses despite a flat overnight lead from the US. Hong Kong's Hang Seng rallied 0.27% and Japan's Nikkei put on 0.2%. Dow futures were recently up nine points or 0.1%.

Chinese shares back-pedalled for a third day despite a renewed commitment by People’s Bank of China Governor Zhou Xiaochuan to maintain stable monetary policy. The Shanghai Composite was recently down 0.07%.

Spot gold slipped $7.50 this morning to US$1,766.60 an ounce. Crude oil futures eased four cents to US$95.55 a barrel. The dollar was buying $US1.0422.


The market is developing one of those tight trading bands that is often the prelude to an explosive move one way or the other. Just needs a new impetus. As Trent speculated, I was all over MAH this morning, trading it twice for a good day's return. The market has been keen to snap up "fallen angels" these last few weeks, significantly increasing the prospects for successful trades following profit warnings. Conditions are not always as accommodating for that sort of trade. Also had a skinny scalp in RED and missed a few more, including IAU and SUN.