Half-time round-up:
The prospect of looming rate rises could not stop Australian stocks from marking the 4500 milestone as this vertical rally ended its fifth week.
At lunchtime, the ASX 200 was up 41 points or 0.93% at 4477 after touching a 10-month high at 4510 early in the session. The big four banks continued to drive the market higher, despite a warning from Reserve Bank governor Glenn Stevens that rates will rise as soon as this shallow recession is over. Financials (ex-property trusts) rose 1.5%, industrials rallied 2.1% and telecoms 1.5%.
Japan's Nikkei rose 1.05% and the Hang Seng was down at -0.41%. Dow futures were neutral at -1.
Terrific trading conditions for the last month and this morning was another good one thanks to a calculated gamble last night that Wal King' LEI would deliver the goods. Bought PLA at the open on the expectation that it would kick on more than it has today. Reluctantly took a small profit in MOF - thought it would run harder. Sitting in the buy queue for GPT at 55. Couple of other pygmy trades on the go.
Potential overnight holds: tempted by an old favourite - FUN. Other than that, any company that reports this afternoon and finishes strongly.
- Forums
- ASX - Day Trading
- daytrade diaries... august 14 part 2
daytrade diaries... august 14 part 2
-
- There are more pages in this discussion • 89 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Featured News
The Watchlist
LU7
LITHIUM UNIVERSE LIMITED
Alex Hanly, CEO
Alex Hanly
CEO
SPONSORED BY The Market Online