Afternoon trading September 10

Thanks @shovel40, @Fiji1 and morning crew.

Half-time wrap:

Rebounds in US stocks and iron ore helped the Australian market rally for the third time in four sessions.

The ASX 200 climbed 50 points or 0.62% by mid-session.

Bulk metal miners BHP, Rio Tinto and Fortescue Metals climbed off multi-month lows after iron ore broke a six-session losing run in China. Benchmark ore firmed another 1.25% this morning on the Dalian Commodity Exchange.

The financial sector hit a new record this morning as this year's extraordinary rally in bank stocks continued. The big four put on between 0.57% and 1.42%.

The morning's economic news showed business confidence fell to a nine-month low in August and trading conditions weakened. Consumer sentiment also ticked lower.

US stocks rebounded overnight from three-week lows. The S&P 500 and Nasdaq bounced 1.13% despite a tepid reaction to Apple's latest iPhone.


Personal trading: Having missed AAJ and in the absence of better ideas, took DEV near the low on the gamble it was showing capitulation selling volumes. Got something out of it - wasn't keen to hang around. Traded SVM four times on the way down and back up for pips, each buy lower than the last. In each case in and out in no more than a couple of minutes. Not good for the blood pressure, lol.