Australian share indexes are back near 2009 highs as local equities race towards a fifth straight day of gains.
At lunchtime, the ASX 200 was up 49 points or 1.24% at 4050, within striking distance of this year's high of 4079, hit on June 12. This morning's rally was fronted by miners (+2.2%) and materials (+2.1%) but found broad support, with healthy gains in defensive sectors such as consumer stocks and telecoms.
Asian markets advanced, the Nikkei rising 0.55% and the Hang Seng 1.98%. Dow futures were recently up 19 points. Gold futures turned sharply north, gaining $3.60 to $941.30. Crude oil cracked $64, recently trading at $64.05, up more than 50 cents.
Fine start to the week here, thanks to TPI. Nailed the initial rise from 1.05-ish to 1.14-ish but was so busy slapping my own back I missed the even more obvious and lucrative opportunity to buy the retrace. (If I had a trading coach, he'd be kicking me around the half-time dressing room right now.) Scalped a few points on SRI, added late Friday thanks to almagoo (one of the better less-heralded contributors here IMO and well worth listening to). CTP still firing - may hold for tomorrow. Added MGX as an iron ore play, hopefully a hold for a few days.
Overnight holds: HAW looks tempting - well done YT, Wilson and other holders. I don't hold yet but watching. ENT threatening to break higher. Also considering KZL and AGS.
