daytrade diaries... june 24 part 2

Half-time round-up:

There was no respite for Australian traders this morning as the market headed towards a sixth negative session out of the last eight.

The ASX 200 has given back almost 300 points or 7.5% in a week and a half since hitting a 2009 high of 4079 on June 12. At lunchtime today, the index was down 14 points or 0.37% at 3782. Gold shares fell 1.2% despite an overnight bounce in gold futures. Also weighing on the index were industrials (-1.5%) and utilities (-2.2%).

Asian markets were mixed, with the Nikkei down 0.06% and the Hang Seng up 0.59%. Dow futures were recently -3. Gold slipped nearly $2 this morning to $923.50. Oil is down almost $1, currently at $68.32.

Trading conditions remain tough and I settled for a few scalps this morning. Scraped in and out of IRN with a pygmy profit - hoped for a bounce off support but the selling didn't let up. Better profits from bounces in AVG and ILU but it's strictly subsistence rations this week. Well done to anyone who has made a decent quid. Still watching RIO.