Day Trading Pre Open - 11 January 2019

Good Morning Fellow Traders,Thanks @Ravgnome , @ttward who will be opening the Lounge and AM Loungers.

It is with immense sadness that I inform you that this will be my last Thread Open for the foreseeable future and as such, I am tendering my resignation and putting the job up for grabs.

I’ve been an active Daytrader for near on eight years now and came to Hot Copper after a random Google search on a stock I was considering buying. What I got was a whole lot more than just some info about a company. I found a virtual workplace filled with the most interesting characters – some knowledgeable, some naïve, some funny, some irritating but all with their own unique personalities. I could start naming names but there are too many to mention and I fear that I would leave out a few. You know who you are, and I want to tell you how much I appreciate you all.

You guys and gals became my colleagues – we kept each other company during long and often boring times. We commiserated each other on our losses and cheered the wins. There was some bickering but I'd rather not dwell on that.

As well as being trading buddies, I very much consider you as friends. Together we shared snippets of our lives – the glad times, the mad times, the sad times and the bad times – all under a veil of anonymity. You were there as I travelled through South East Asia and subsequently had my cycling accident. You helped console me through bereavements and made some lonely times less so. There is no way that you could know how much I appreciated your company and support through some really crappy times in my life. And I tell you, I have had more than you could imagine.

Anyway, last year, finally, things started to turn for the better and this has led me to several life changes. Next week, I am moving and the following week, I will be taking up full time employment in a position that was surprisingly offered to me and was too good to refuse. Alas, it won’t allow for Daytrading or lurking on Forums. And yes – I know you’re all wondering – there is a special someone in the picture amidst all this who means the world to me and although it has taken a long time to find this much happiness, I am truly grateful.

Soooo – we are needing someone who can get the show on the road each morning. Doesn’t have to be anything flash – the only pre requisite is that you show up and just do it. I hope that you will all continue to take care of each other and look after yourselves as well. It’s been a blast and I promise to pop in now and then. Who knows, one day I may be back on a regular basis again. Till then – thank you – you’ve all been great.

And - here's the market news:-

The Australian share market has had a flat finish to the day, as a 3.4 per cent fall in BHP shares after market giant went ex-dividend, offset any gains elsewhere.

The benchmark S&P/ASX200 index closed up 17 points, or 0.29 per cent, to 5,795.3 at 1615 AEDT on Thursday.
The broader All Ordinaries was up 15.5 points, or 0.27 per cent, to 5,853.9.

The energy sector gained 0.7 per cent after oil prices again rose, up over four per cent in offshore trade, with property trusts, materials and utilities the other major gainers.

But the major drag on the market was BHP shares falling $1.16 to $33.14, after the market giant paid shareholders a fully franked special dividend of $1.43 per share following the sale of its shale oil assets.

CommSec market analyst James Tao said the market would have had a much stronger finish if it wasn't for BHP.

"You've got a number of factors behind that, the big factor is BHP, which is really weighing the most on the broader market," he said.

Mr Tao said there have also been some heavy losses in consumer staples sectors, led by horticultural company Costa Group, which nosedived as 38.8 per cent to $4.51, on the back of subdued demand for products including tomatoes, berries and avocados.

"They came out with a weak earnings update, revising their guidance down," he said.

Treasury Wines shares reversed recent gains to fall 4.8 per cent to $14.245, and Coca-Cola Amatil was also down, losing 2.28 per cent to $8.15.

Strong half-year sales guidance for fashion retailer Noni B saw its shares jump 10 per cent to $2.75.
Mr Tao said traders are also cautious waiting for information about the US-China trade negotiations, which have finished.

"We're now waiting for what the outcome will be, whether or not it will be something tangible, or if there will be any type of progress coming out the talks that will give markets inspiration," he said.

Elsewhere in the market, the big banks were higher, with ANZ the biggest gainer, up 0.56 per cent, followed by Westpac, up 0.35 per cent..

In the energy sector Santos was up 0.7 per cent to $5.85, Woodside Petroleum, up 0.66 per cent to $33.37, and Oil Search also climbed, gaining 1.14 per cent to $6.95.

Shares in the other big miner Rio Tinto were subdued, only gaining 0.14 per cent to $80.13, while Fortescue Metals and Bluescope Steel each suffered losses of more than 1.2 per cent.

The Aussie dollar has also jumped against the greenback, buying 71.84 US cents, from 71.55 US cents on Wednesday.

ON THE ASX:
* The benchmark S&P/ASX200 index was up 17 points, or 0.29 per cent, to 5,795.3
* The All Ordinaries was up 15.5 points, or 0.27 per cent, to 5,853.9
* At 1630 AEDT, the SPI200 futures index was up seven points, or 0.12 per cent, at 5,735

CURRENCY SNAPSHOT AT 1615 AEDT:
One Australian dollar buys:
* 71.84 US cents, from 71.55 on Wednesday
* 77.54 Japanese yen, from 77.91
* 62.19 euro cents, from 62.43
* 56.19 British pence, from 56.15
* 1.0592 NZ cents, from 1.0591

GOLD:
The spot price of gold in Sydney at 1615 AEDT was $US1,295.80 per fine ounce, from $US1,281.95 on Wednesday.

U.S. stocks edged lower on Thursday after Federal Reserve Chairman Jerome Powell said the central bank would continue unwinding its balance sheet, adding to weakness in the markets under pressure from a retail selloff.

While Powell reiterated the views of other policymakers that the Fed would be patient about interest rate hikes, he said the bank’s balance sheet would be “substantially smaller” and raised concerns about the size of U.S. debt.
“He reiterated his statements that helped the market a few days ago which was that the Fed is not on a preset course to hike rate,” said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin.

“But he also made a statement about the amount of budget deficit and the national debt rising and that’s what spooked the market a little bit. It’s more of a commentary on the entire economy as a whole.”

The S&P 500 .SPX is on track to end a four-day rally, which was sparked by a strong U.S. jobs data, easing fears of higher interest rates and rising hopes of a trade deal.

However, trade-related optimism faded on Thursday as China offered little details on key issues such as forced technology transfers, intellectual property rights, tariff barriers and cyber attacks.

The lack of clarity, coupled with weak economic data in China and France, rekindled worries about global growth.

Closer home, reports from Macy’s and American Airlines added to fears of corporate profit growth shrinking, which was exacerbated after Apple’s sales warning last week.

“Most of what’s driving the pullback is headline risks on the lack of a formal trade policy deal,” said Matt Forester, chief investment officer at BNY Mellon’s Lockwood Advisors in King of Prussia, PA.

“We’re about to go into the earnings season and it’s going to be a tug of war between relatively good results versus what the forward guidance is going to look like.”

At 1:48 p.m. ET the Dow Jones Industrial Average .DJI was down 38.89 points, or 0.16 percent, at 23,840.23, the S&P 500 .SPX was down 6.66 points, or 0.26 percent, at 2,578.30 and the Nasdaq Composite .IXIC was down 25.05 points, or 0.36 percent, at 6,932.02.

The trade-sensitive industrial stocks .SPLRCI however rose 0.54 percent, lifted by Boeing Co (BA.N), which gained 1.8 percent after the U.S. Air Force accepted its long-delayed KC-46 air tanker.

Declining issues outnumbered advancers for a 1.22-to-1 ratio on the NYSE and for a 1.42-to-1 ratio on the Nasdaq.
The S&P index recorded no new 52-week highs and one new low, while the Nasdaq recorded 17 new highs and 9 new lows.
Source: Netwealth Morning Business Roundup

I know you'll probably be chowing down on sausages and bacon soon enough so I'm serving up a healthy Chickpea and Avocado Wrap for this, our last breakfast together. Watermelon Juice and Coffee to rinse it down with.



In consideration of others, PLEASE include the STOCK CODE in all your posts.

Happy trading, play nicely and make informed decisions.



Bye for now. I'll miss you like crazy - Cleo xoxo.