Daytrading April 29 afternoon

Thanks Brit and morning regulars.


Half-time round-up:

Shares fell sharply this morning as a rising dollar and a string of profit downgrades capped risk appetite ahead of tonight's US Federal Reserve policy statement.

At lunchtime the ASX 200 was 69 points or 1.2% lower at 5880 and on track for a second straight loss since the index rejected the 6000 level for a fourth time. The market got the wobbles after companies as diverse as IAG, SGM, GMA and GNE downgraded their profit guidance.

Defensive gold stocks were the only sector to improve, gaining 1.1%. A long list of declines was headed by health and I.T. -2.1%, financials -1.5% and consumer discretionary -1%.

China's Shanghai Composite fell 0.78% and Hong Kong's Hang Seng 0.52%. Japan's Nikkei was closed for a public holiday. Dow futures were recently off 24 points or more than 0.1%.

Crude oil futures eased 17 cents this morning to US$56.89 a barrel. Spot gold was $3.90 lower at US$1,210 an ounce. The dollar was buying 79.89 US cents.


Torrid morning at both ends of the market. Quite a few of the recent stars/thread faves here fell heavily - AZK, NRT, DUO. Meanwhile the XJO is taking a spanking. Overseas money getting its profits from currency movements?  Dollar has improved a lot in the last week. Alternatively, investors losing faith in the Australian rate cut story? Trading: squeezed a pip out of AZK but not inclined to hang around until it shows some real strength. Measly half-pip from NRT. Also took TAP, ANN, LLC, IPL and ALL at/near their lows. Jury still out on whether any of those will prove rewarding. Much trickier session than yesterday.