Half-time round-up:
Stocks marched to an eight-month high this morning on a diet of positive US profit results, but drifted as the end of the week loomed.
At lunchtime the ASX 200 was up 37 points or 0.92% at 4101 after earlier touching a high of 4121. The mining and financial sectors were strong but there was notable weakness in defensive stocks like WOW, SHL, IVC, QBE and DXS, suggesting further market rotation into riskier cyclical stocks - a good omen for the near-term market outlook.
Japan's Nikkei index rose 1.53% and Hong Kong's Hang Seng added 0.31%. US index futures softened after some disappointing after-market profit reports. Dow futures were recently down 28 points.
Potential overnight holds: there were promising breakouts this morning in ALS, IRH, MND and AQA, although the latter two are under pressure and looking "toppy".
A moderate morning here as I closed the books for a holiday. Traded the breakout in AQA but not especially well. Sold out of QBE, acquired yesterday, at a modest profit. Took a small loss on CIF, also added late yesterday.
That's it from me for a week, folks - off to Bali (sack the holiday planner) for a family reunion. I'll be back online on Monday, Aug 3. Best of luck to all of you - try not to break anything while I'm gone. Well, except record profits.
- Forums
- ASX - Day Trading
- daytrade diaries... july 24 part 2
daytrade diaries... july 24 part 2
-
- There are more pages in this discussion • 95 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
FWD
Queensland's housing crisis an opportunity for ASX builder Fleetwood – and taxpayer cash a safe harbour from the storm
RNU
Renascor wins a funding boost given it wants to produce a critical mineral – but $5M award pales in comparison to some