Afternoon trading April 9

Thanks @fuhc46 for stepping up this morning. Also regulars @Fiji1 and @uncleBuck.

Half-time wrap:

Australian stocks declined for the fourth time in five sessions after another escalation in the US-China trade war triggered a sharp reversal in US stocks overnight.

The ASX 200 declined 105 points or 1.4% by mid-session.

Resource stocks were amongst the morning's worst performers after the White House announced it would raise tariffs on Chinese imports to 104%. Iron ore, copper and other metals fell in the aftermath. Significant falls here included Mineral Resources -10.68%, Fortescue -4.55%, Rio Tinto -4.14% and BHP -2.97%.

Energy stocks sank after crude prices plumbed four year lows.Santos and Woodside both shed at least 2.6%. Slender gains in three of the big four banks helped shield the market from a deeper loss.

US stocks reversed strong early overnight gains as hopes for tariff compromise were whittled away. The S&P 500 closed 1.57% lower after being up more than 4%.


Personal trading: Another day for working out likely support levels based on previous trading ranges, then waiting for whichever stocks reach the buy zone. Took WOR, ILU, CDA and CIA. Three out of four played out. No major wins, but some solid scalps off the lows. That said, hindsight shows there were much better trades out there.