Sorry to hear that @highlandlad, I'm sure you'll quickly bounce...

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30/07/24

13:17

Post #: 74981578
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Originally posted by highlandlad: ↑

Thanks @shovel40, @Fiji1 and morning crew.

Half-time wrap:

The share market stepped back as risk aversion set in ahead of inflation data tomorrow that could potentially force interest rates higher.

The ASX 200 slumped 51 points or 0.64% towards its first loss in three sessions. Resource and tech stocks led a retreat that lowered all sectors.

The fall followed a marking-time session in the US ahead of a Federal Reserve rates decision, jobs data and trading updates this week from four of the Magnificent Seven. The S&P 500 and Nasdaq inched up less than 0.1%. The Dow eased 0.12%.

A 6.5% drop in building approvals last month added to evidence of strains on the Australian economy ahead of tomorrow's fourth-quarter Consumer Price Index report. Some economists argue an annual inflation reading above 4% could seal another rate hike. However, the consensus among economists is for a decline in annual headline inflation to 3.8%.

Personal trading: Well, as foreshadowed yesterday, I took a deep bath this morning in RCR. After yesterday's collapse, the company had the gall to attempt the Vicky Pollard defence: no, but yeah. No, we have no idea why the share price plunged 25% yesterday, but since we're talking, here are some lousy drilling results that definitely don't explain it. Yeah... Draw your own conclusions. I was careless with my position-sizing and slow to read the tea leaves yesterday - that's on me - so I've blown up a month's earnings. How many people can say they achieved that at work today? Not many. Let's hear it for trading. Yeah! Woo! Spare change, mister?

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Sorry to hear that @highlandlad, I'm sure you'll quickly bounce back, you are an excellent trader.
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