daytrades march 12 afternoon

Thanks Tweets. Half-time round-up:

The local share market inched higher this morning but by lunchtime was struggling for a third straight day to hold its gains.

At 1 pm the ASX 200 was up 1 point or 0.03% at 4815 after earlier touching 4835, close to a seven-week high. Most sectors were stronger but there were no stand-outs in a flat market.

The Australian dollar neared a seven-week high against the dollar and yen this morning and is on target for a second week of gains.

"The trend is still positive for Australia and jobs growth is still there, so interest rates will remain on the way up," Jim Vrondas, manager at an online foreign-exchange dealer in Sydney told Bloomberg. "That 92-cent level is the key and we can take it out."

Asian markets were mixed. Japan's Nikkei climbed 0.45% and Hong Kong's Hang Seng 0.1% but Shanghai was down 0.25%. Dow futures were recently at a mildly bearish -14.

Crude oil futures slipped 5 cents this morning to $82.20 a barrel. The spot gold price was 70 cents weaker at $1,108.60 an ounce.


Another fairly turgid morning reflected in my trading account. Skinny scalp on KMN - one determined seller, possibly an ex-director, so it may offer a worthwhile entry opportunity soon for traders with longer horizons. Also holding WHN on pullback - inside day today after yesterday's kick north.