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Tony barber

6,439 Posts.

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12/12/18

13:37

Post #: 36833351
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Originally posted by highlandlad ↑

Thanks Oscar and morning crew.

Half-time round-up:

Shares rallied for a second day as US futures turned positive following last night's rollercoaster session.

The ASX 200 advanced 43 points or 0.8% to 5619 mid-session but remained underwater for the week following Monday's dive to a two-year low. Energy stocks led the rise, gaining 1.8%. Also strong: I.T. +1.6%, financials +1% and metals & mining +0.9%. The gold sector fell 2% and telecoms 0.9%.

US stocks closed mixed and well off session highs after an Oval Office tiff between President Donald Trump and Democrat leaders fuelled fears about the government's ability to pass its agenda. The S&P 500 ended 0.04% in the red despite a bright start. S&P 500 futures were recently ahead 10 points or 0.38%.

"The up and down game came as investors weighed the prospects for a trade deal with China and watched US President Donald Trump's spectacular bickering in the Oval Office with Democratic Senate leaders, which ended with him saying he would be 'proud' to shut down the government if he doesn't get funding for his border wall," Kyle Rodda of IG Markets told Fairfax.

A promising morning in Asia saw China's Shanghai Composite up 0.34%, Hong Kong's Hang Seng 1.3% andJapan's Nikkei 1.67%.

Crude oil futures jumped 67 cents or 1.3% this morning to US$52.32 a barrel. Gold futures regained $3.50 or 0.28%to US$1,250.70 an ounce. The dollar was buying 72.27 US cents.

Stinker of a market today. The starter's pistol went and the specs flopped onto the ground and lay there convulsing. Seems at present that any decent announcement is treated purely as an exit opportunity for existing holders. No follow-through buying. SCT is an example. I picked up a few on retrace but can't say it feels I'm on a sure thing. More like one of those parties where everyone turns up in good spirits, then stand around waiting for something to happen but nothing does. Finally got back onto AGH as a STT rather than DT. Volume has dropped off, supports looks solid, Aphria has been rising for three days and AGH has yet to follow. Doesn't mean it will, but the risk:reward ratio has tilted.

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OT. Sometimes you need to spike a few drinks at those parties where nothing happens.
Choose your targets wisely though. The bloke who likes knives isn't a good choice

Last edited by Tony barber: 12/12/18
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