hmmm, ajx might need to be watchful this afternoon - after 2...

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pintohoo

96,024 Posts.

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05/01/15

13:06

Post #: 14536968
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Originally posted by highlandlad ↑

Thanks Beany and morning regulars.

Half-time round-up:

The share market continued its cautiously positive start to the new trading year this morning despite gloomy US equity futures, soft domestic manufacturing data and weakness in oil.

At lunchtime the ASX 200 was 15 points or 0.3% ahead at 5451 as gains in gold +3.6%, energy +1.4% and utilities +1.4% offset falls in consumer stocks and a tepid session for financials +0.1% and metals & mining +0.1%.

The market shrugged off several headwinds. West Texas Intermediate crude oil for February delivery extended last week's five-and-a-half-year low with a fall of 52 cents or 1% this morning to US$52.18 a barrel. Dow futures were recently 56 points or 0.3% lower at 17,667, hinting at a weak start to the trading week in the US tonight.

Manufacturing activity contracted sharply last month, according to the Australian Industry Group’s performance of manufacturing index. The index declined 3.2 points to 46.9, below the 50-point level that separates expansion from contraction.

China's Shanghai Composite rallied 1.04%, Hong Kong's Hang Seng fell 0.46% and Japan's Nikkei lost 0.7%.

Spot gold was $1.50 stronger at US$1,191.30 an ounce. The dollar was buying 80.79 US cents.

The market looks on track to retain its 100% positive close record. If it keeps that up for the rest of the year we can all retire. Been a lot of follow-through from bottoming patterns lately - a sign that the worst of the commodities bust may be behind us. I got on ARI before Christmas, thanks in large part to Asteroider's excellent interpretation of the market activity - thanks mate. Barring any serious pullback, I'm happy to let it run for a few more weeks. Should have had a few more medium-termers in place before the break. Caught the bounce in MBE this morning for a wage. Right, better get back to playing Florence Nightingale/Nanny McPhee...

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hmmm,

ajx

might need to be watchful this afternoon - after 2 (habit) - this move may come quicker than I thought???

not a real lot between here and a new high really
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