Afternoon trading Nov 1

Thanks Oscar and morning crew.


Half-time round-up:

The All Ordinaries broke through 6000 for the first time in nine years as the October rally extended into a new month.

The broader of the two major domestic indices peaked at 6019 this morning, its highest point since May 2008, and was lately up 36 points or 0.6% at 6012. The more-widely-followed ASX 200 was up 36 points or 0.6% at 5945 after cresting just short of its 2017 high of 5956, set back in May.

A resumption of the rally on Wall Street overnight converted into broad gains here, led by metals & mining +1.4%, energy +1% and financials +0.8%. US futures remained buoyant this morning, with Dow futures lately up 47 points or 0.2% and S&P 500 futures 3.75 points or 0.15%.  China's Shanghai Composite put on 0.28%, Hong Kong's Hang Seng 0.52% and Japan's Nikkei 1.33%.

Crude oil futures jumped another 29 cents or 0.53% this morning to US$54.67 a barrel. Gold futures dipped $1.10 or 0.1% to US$1,269.40 an ounce. The dollar was buying 76.56 US cents.


Good to see Endless get some credit on the threads this morning. He's a shrewd customer. If there's one thing new traders might learn from him, it's to approach company statements with a sceptical mind. The directors are in the sales game, we're the patsies. By all means trade the hype - that's where the opportunities are - but don't believe it. Very few specs amount to anything. Trading: got PSC twice for two wins. Also took ZNO, back near support.