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Thesardoz

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07/12/18

13:03

Post #: 36784381
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Originally posted by highlandlad ↑

Thanks Oscar and morning crew.

Half-time round-up:

The share market turned positive for the week after a reversal session on Wall Street raised hopes for a global relief rally.

The ASX 200 rose 27 points or 0.5% to 5685 mid-session, placing it on track to break a three-session losing run and end above last Friday's close at 5667. A broadly positive session saw gains in health stocks +1.9%, consumer staples +1.3%, financials +0.4% and industrials +0.6%. Materials slipped 0.3%. The Small Ords lost 0.4% and the gold sector 0.7%.

This morning's rally followed a volatile night in the US, where stocks opened heavily in the red but regained most of their losses by the close. The S&P 500 ended with a loss of 0.15%, while the Nasdaq closed 0.42% ahead. S&P 500 futures were recently off 3.5 points or 0.13%.

Asian markets ticked higher. China's Shanghai Composite improved 0.31%, Hong Kong's Hang Seng 0.23% andJapan's Nikkei 0.28%.

Crude oil futures dropped another 27 cents or 0.52% this morning to US$51.22 a barrel. Gold futures added $1 or 0.08%at US$1,244.60 an ounce. The dollar was buying 72.24 US cents.

Trading: I call this AGM to order and put it to shareholders that Babylon Pump & Power be renamed Babylon Pump & Dump. Who's with me? I also move we appoint an independent committee to establish who was behind yesterday's pump so we can ask why the hell they didn't continue it today? A good pump lasts longer than one day. Amateurs. Tsk tsk. Hope no one here was caught out by the retrace. I picked up a few at 1.8c to see if the big seller pauses or runs out of ammo. My best trade of the morning was INP - had to buy twice but did well out of the rebound. Swung at CLI and missed. AGH now seems to be entirely hostage to overnight moves in Aphria. Pity because it reduces the volatility during our session.

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