daytrade diaries... november 12 part 2

Half-time round-up:

A surprise rise in new jobs added fresh impetus to the local stock market's week-long rally this morning.

At lunchtime the ASX 200 was up 24 points or 0.52% at 4781 after fresh evidence of the strength of the Australian economy. The unemployment rate inched to 5.8% from 5.7% last month, as expected, but investors were cheered by a 24,500 rise in total employment. The news increased the likelihood of an interest rate rise next month. The Australian dollar spiked on the news, rising more than half a US cent to its highest level since August 2008, 93.67 US cents.

The mining sector paced gains this morning for a second day, rising 1.4%. Also strong were IT +2.1%, gold +1.4% and materials +1.4%.

The spot gold price broke through $1,120, recently trading at $1,120.60 an ounce. Crude oil futures also pushed north, adding more than 30 cents this morning to trade recently at $79.59 a barrel.

Asian markets coasted higher. Japan's Nikkei added 0.39% and Hong Kong's Hang Seng rose 0.15%. Dow futures were neutral at +4.


A good morning here thanks mainly to ORN from yesterday. Also scalped the BCC sell-off. Added GMG on expectation that it will eventually follow the rest of the sector higher (compare the chart with GPT, SGP, MGR, MCW) but it remains the unloved runt of the litter. For now at least. Just added some SAU at 12c.