Day Trading Pre-market Open – 5 Apr 2019

Thanks @ttward, @Ravgnome, the aftermarket loungers, @Oscar09 and @highlandlad.
The end of my tenure and you can all look forward to having Bugsam back on Monday.

Excerpts from CommSec Daily Report after close on 4rd April
Evening Report

The ASX 200 retreated from seven month highs on Thursday, and in the process ended a seven session winning streak. The index closed the session with a loss of 52 points or 0.83% to close at 6232. Equity markets throughout the region were generally weaker, with any gains well contained. The Shanghai Composite was the most improved market with a gain of almost 0.5%, whilst the NZX 500 was down by about the same amount.

Participation was average, 2.2 billion transactions traded worth $5.8 billion with 526 stocks higher, 585 weaker and 402 unchanged. Every sector measured by the ASX ended lower, Information Technology and Consumer Discretionary names fell the least in relative terms. The Energy sector lead the declines in outright terms; Woodside (WPL), Santos (STO) each fell in the order of 2% and Beach Energy (BPT) declined by 4%. Property Trusts were also marked down by sellers; Goodman Group (GMG), Viva Energy REIT (VVR) and Dexus (DXS) all fell by more than 2%. Healthcare names were also singled out by sellers Cochlear (COH) and Resmed (RMD) each fell by more than 2%, CSL fell by more than 1%

The bulk iron ore miners saw a day of consolidation following recent improvements. Iron ore prices are being supported by supply concerns which are becoming more acute. The fears are in response to disruptions in Brazil, where according to Bloomberg, the mining regulator has ordered the closure of 56 tailings dams, as a result of physical instability or lack of documentation attesting to their stability. At the same time, the impact of cyclone Veronica on the Pilbara region is expected to sideline approximately 1.4% of the seaborne iron ore market. Fortescue Metals (FMG) shares were down by more than 1%, having risen by almost 18% in the previous three weeks.

Elsewhere, graphite miner Syrah Resources (SYR) by 13% after a quarterly update beat the company’s own guidance, in addition to the average graphite price being at the upper end of its target range. Grain handler, Graincorp (GNC) ended the session 2% higher after announcing the demerger of its malt business. The transaction is expected to be completed by the end of 2019 and will result in two separate ASX-listed companies. The initiative will allow for the acceleration of a number of cost reduction initiatives.

Looking ahead, wire services are reporting on the likelihood of President Trump announcing a summit with China’s president Xi Jinping in the coming northern hemisphere session tonight. The speculation suggests Mr Trump could make the announcement at the conclusion of a meeting with China’s Vice Premier Hu, at the Whitehouse in the next day. Such an announcement would suggest to the markets that progress has been made in areas of discussion that have been marked by a stalemate for numerous months.

The Aussie Dollar held its ground against the greenback, reflecting better economic news lately in addition to rising iron ore prices. The local unit was changing hands at 71.23 US cents at the close of Asian trade.

Shortly before 7:00 AEDST Crypto in negative territory for 24 hours but still well up for the week.



Meanwhile the DOW and S&P500 are both up with the Nasdaq marginally down.



Coaching teens again today so will be away from the desk most of the day. Hope you all have a great day out there and make a bit of coin.

Please include the STOCK CODE in your post out of respect for your fellow traders, or use the OT (off topic) tag for non-stock related content.

For those that want a fresh option we have fruit salad cups with your choice of juice or coffee.



Or I have some evidence I have to dispose of compliments of Ralph.
They say it has to hang for at least three days, count them. (The days)
@Bugsam will be returning to look after the flock on Monday I believe.