Daytrading June 9 afternoon

Thanks Brit and morning crew.


Half-time round-up:

Small caps hit a fresh three-year high this morning as weakness in the big banks dragged the broader market lower.

At 1pm EST the Small Ordinaries was 17 points or 0.7% ahead at 2370 after earlier breaking above 2380 for the first time since March 2013. The ASX 200 was down 16 points or 0.3% at 5354 and on track for a second day of minor losses as the benchmark index continues to butt against overhead resistance around the 5400 mark.

In the broader market, rises in gold +3, metals & mining +1.6% and energy +0.5% were overshadowed by declines in IT -0.9%, financials -0.7% and telecoms -0.7%.

Asian action was limited by public holidays in China and Hong Kong. Japan's Nikkei declined 0.91%. Dow futures were recently down 13 points or 0.07%.

Crude oil futures cents continued to rally this morning, last up 36 cents or 0.7% at US$51.59 a barrel. Gold futures were $2.90 or 0.23% firmer at US$1,265.20 an ounce. The dollar was buying 74.81 US cents.


Small is definitely where the action has been this year. My watchlist has been tilting further and further towards specs and away from mid/large caps where trading opportunities used to be more plentiful. Typical morning today, clipping tickets in the likes of SRF, CLQ, RFX and SAS. This market continues to throw out good opportunities most days.