daytrade diaries... october 15 part 2

Half-time round-up:

A blue-chip buying spree fired local shares to a one-year high this morning.

At lunchtime the ASX 200 was up 53 points or 1.1% at 4884 after big gains for the big miners and banks. Financial shares rose 1.3%, metals & mining 1.4%, materials 1.4% and property trusts 1.6%. The Small Ordinaries index lagged the blue chips at +0.7%.

In economic news, the dollar surged close to 92 US cents after the RBA said strength in the local economy meant several interest rate rises were inevitable. RBA governor Glenn Stevens said, "The very low interest rate settings were designed for a weaker economy than we are in fact facing. Plainly, the downside risks to which the Board was responding earlier have not materialised."

Asian markets advanced. Japan's Nikkei was up 2.09% and South Korea put on 1.3% in early trade. Dow futures were at +6. The spot gold price inched up to $1,063. Crude oil futures charged to $75.88 a barrel - really looking very bullish.

I've made heavy weather of the positive conditions this week - profitable but really should have done better. Skinny profit on TPI this morning. Small position in CTP at 14 - will look to sell before the close. GFF looking vulnerable.