daytrading may 31 afternoon

Thanks Endless.

Half-time round-up:

The share market is heading for a second straight weekly loss and its first losing month since November after an early rally faded as the big banks rolled over.

At lunchtime the ASX 200 was seven points or 0.1% ahead at 4937 after hitting an early high at 4963. Falls in financials -0.3%, telecoms -1.1%, health -0.5% and consumer staples -0.1% outweighed gains in gold +2.1%, metals & mining +1.6%, materials +1.4% and utilities +1.4%.

"We're seeing good rallies in iron ore stocks despite headlines pointing out potential difficulties in the sector," Michael McCarthy, chief market strategist at CMC Markets, told Fairfax.

Japan's Nikkei recouped some of yesterday's 5.15% loss. The Nikkei was lately up 1.58%. Shanghai was down 0.12% and Hong Kong's Hang Seng off 0.18% ahead of tomorrow's May Chinese manufacturing data. Dow futures were recently up 11 points or 0.1%.

Gold extended its overnight break back above US$1,400 an ounce. The spot price was lately up another $5.70 for the morning at US$1,419.10 an ounce. Crude oil futures rallied 12 cents to US$93.69 a barrel. The dollar was buying 96.71 US cents.


Feels like the slowest session in a few months. Reminded me of long stretches of last year when I couldn't find a trade to save myself. The sell-off in yield stocks appears to be continuing, but at least there's no sign of concern among the iron ore miners ahead of the May manufacturing report from China tomorrow. I caught GUF for a part-fill at the low but got so few shares that a two-point bounce has done little for the trading account. LEI provided a glimmer of excitement but as is often the case when there's nothing else happening I talked myself into a premature entry and need this bounce to continue for the trade to deliver more than peanuts. All a bit ho-hum.