daytrading dec 28 afternoon

Thanks again Suzie.

Half-time round-up:

The All Ordinaries cracked 4700 this morning for the first time in 17 months as renewed hopes for a US budget deal lifted Asian markets.

At lunchtime the All Ords was 33 points or 0.7% stronger at 4694 and on track for a sixth week of gains after earlier touching 4701. A broad rally boosted all sectors, spearheaded by gains in metals & mining +1.4%, gold +1.2% and health +1.2%. The Small Ordinaries rallied 18 points to its highest point since late October.

The gains came as US President Barack Obama this morning summoned congressional leaders to a White House meting tonight to discuss the looming fiscal cliff deadline. Read more here.

Asian markets resumed their recent up-trends. Shanghai advanced 0.32%, Hong Kong's Hang Seng 0.27% and Japan's Nikkei 0.65%. Dow futures were recently up two points or less than 0.1%.

Crude oil futures rallied 15 cents this morning to US$91.30 a barrel. Spot gold was $1.30 lower at US$1,663.10 an ounce. The dollar was buying $US1.0378.


The market saved the best of the year for last, rising in a virtually unbroken line for six weeks since mid-November. A retrace looks overdue, but bull runs can continue for weeks or even months longer than you expect. QFX was obviously this morning's market darling, with a few others playing minor supporting roles. DRK and RXL were my main trading targets today but still waiting for a clear buy signal.