daytrading april 26 afternoon

  1. 14,580 Posts.
    lightbulb Created with Sketch. 6
    Thanks Endless.

    Half-time round-up:

    The share market hit a six-week high this morning before paring gains as Asian markets struggled to extend weekly advances.

    At lunchtime the ASX 200 was two points or 0.1% ahead at 5104 with strength in resource stocks countering weakness in yield plays. Gold stocks surged +6.5%, metals & mining +3.1%, materials +2.3% and the Small Ordinaries +0.8%. Telecoms +0.7% bucked a downtrend among defensive sectors that pulled health stocks down 1.1%, property trusts 1.2% and utilities 0.3%. The financials sector lost 0.2%.

    "It's all about commodities today," IG Markets market strategist Stan Shamu told Fairfax. "We've seen a nice little jump in the materials names: BHP, Rio, Newcrest."

    The market drifted off its mid-morning high as Chinese and Japanese shares dipped into the red. The Shanghai Composite was lately down 0.2% and Japan's Nikkei off 0.42%. Hong Kong's Hang Seng rallied 0.94% Dow futures were off 13 points or 0.1%.

    Crude oil futures edged up four cents this morning to US$93.31 a barrel. Spot gold firmed $8.50 to US$1,477.10 an ounce. The dollar was buying $US1.0331.


    Some terrific recoveries among the goldies this morning - well done to holders - but otherwise not a lot of movement at the spec end. When things are slow I try to scalp oversold mid-caps, generally with mixed success. Caught the early bounce in QAN for half a day's wage. Sitting at break-even in SGP. Only spec buy was a small speculator in PCL near the low. Slow morning.
 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.