Daytrading August 16 afternoon

Thanks Oscar and morning crew.


Half-time round-up:

A directionless week on the ASX continued as gains in resource stocks failed to offset weakness in the broader market.   

At 1pm EST the ASX 200 was six points or 0.1% lower at 5534 and locked in a tight 19-point trading band. Gains in energy stocks +1.5%, metals & mining +0.7% and materials +0.6% were outweighed by declines in telecoms -1%, consumer discretionary -1.1% and utilities -0.5%.

"The morning session has seen the ASX 200 index trading in a narrow, 0.25 per cent band, with the focus on individual stocks as reporting season remains in full swing," CMC chief market strategist Michael McCarthy told Fairfax. "Today's market winners include Challenger... and Mirvac Group... On the flip side, Domino Pizza shares are under pressure... BHP is likely to announce its largest single year loss ever after market today. Writedowns of the value of US energy assets, and costs associated with the Samarco mine disaster have analysts on consensus estimating a loss around $US6 billion."

Asian markets were mixed. China's Shanghai Composite was down 0.22%, Hong Kong's Hang Seng up 0.01% and Japan's Nikkei off 0.25%. Dow futures were 19 points or 0.1% lower.

Crude oil futures retreated 29 cents or 0.63% this morning to US$45.45 a barrel. Gold futures were $2.70 or 0.2% firmer at US$1,350.20 an ounce. The dollar was buying 76.61 US cents.


Turbulent morning, with some heavy tumbles. Shares I traded well: GMC, MSB first time. Shares I traded badly: MDL (brokerage), MSB second time (jury still out).