daytrading jan 7 afternoon

Thanks Endless.

Half-time round-up:

Australian shares punched to a fresh 20-month high this morning before turning negative as resource stocks faded and Asian markets struggled for direction.

At lunchtime the ASX 200 was three points or 0.1% weaker at 4720 after earlier touching 4750. The market reversed its gains as the materials sector turned negative (-0.5%) and financials cut its advance to 0.2%.

The retreat intensified as China's benchmark share market opened underwater. The Shanghai composite was lately off 0.15%, Hong Kong's Hang Seng 0.04% and Japan's Nikkei 0.34%. Dow futures were recently up one point or less than 0.1%.

Crude oil futures retreated 16 cents this morning to US$93.03 a barrel. Spot gold was $2.60 firmer at US$1,659.40 an ounce. The dollar was buying $US1.0484.


A hint of market fatigue this morning. There was always a danger of profit taking as the insto traders returned to the market. At the speccy end, it seemed to be mainly about the usual suspects this morning, with little in the way of fresh runners. I'm struggling to find quick, profitable trades in these conditions, but managed a quick scalp in WHC before it went into the trading halt. Now looks like the plunge was triggered by a hoax press release. Read more here.