Daytrading November 10 afternoon

Thanks Oscar and morning crew. Everyone making a dollar? That's terrific, just terrific. Let's make the DT thread great again.


Half-time round-up:

Australian stocks rebounded with regional markets this morning as investors reassessed the risks from a Trump presidency, dumping havens for risk assets.

At 1pm EST the ASX 200 was 141 points or 2.7% higher at 5298 and within reach of the index's highest close in almost two weeks as traders snapped up IT stocks +6.3%, metals & mining +5.3% and financials +3.6%. The explosive session more than reversed losses sustained yesterday as Donald Trump upset the odds to claim the White House. Gains would have been stronger but for heavy selling in gold stocks -5.1% and utilities -0.9%.

“Investors are now thinking that things aren’t going to be as bad as what they had thought," Grant Williamson, investment adviser at Hamilton Hindin Greene in New Zealand, told Bloomberg. "It was a bit of a shock to most investors initially and now people are getting used to the idea... He’ll certainly be friendly to American business and that could very well stimulate their economy."

Japan's Nikkei reversed yesterday's 5.22% dive with a rally of 5.99% today. China's Shanghai Composite added 1.17% and Hong Kong's Hang Seng 2.06%. Dow futures were recently down 14 points or 0.08%.

Crude oil futures declined 20 cents or 0.44% this morning to US$45.07 a barrel. Gold futures rallied $11.40 or 0.9% to US$1,285 an ounce. The dollar was buying 76.67 US cents.


Challenging morning for various reasons: IT issues, the size of that gap open, uncertainty over the outlook. However, the standout trade for me this morning was goldies. If Trump means uncertainty and inflation, then the gold miners hammered at the open were the thing to buy. Took EVN, SAR and MOY. No buys since the first 15 minutes - happy to sit on those while gold continues to recover.