daytrade diaries... june 16 part 2

Half-time round-up:

Australian stocks are on track for a second day of losses after chasing commodity prices and Wall Street lower this morning.

At lunchtime, the ASX 200 was off 42 points or 1% at 3989 on selling in property trusts (-2.7%), metals & mining (-2.4%), materials (-2.4%) and gold miners (-1.9%). There were gains in the traditional defensive sectors of telecoms (1.5%), health (0.4%) and consumer staples (0.2%).

The Nikkei in Japan lost 1.95% in morning trade. Hong Kong's Hang Seng dropped 1.78%. Dow futures were recently at -7. Gold has gained $4 this morning, trading at $932.50. Oil slipped a few cents to $70.29.

All bounce trades here this morning, scalping profits in ESG and MCC when they dropped back to support levels and AGO and SRL when the selling looked overdone. Took BTA at the open but exited for a small loss - no buying interest. A solid profit from five trades but nothing to compare to Ipod's MGK trade - well done to all who traded it. Am also holding UMC from yesterday.