Daytrading June 23 afternoon

Thanks Oscar and morning crew.


Half-time round-up:

Shares marked time for a second day as tonight's UK referendum on leaving the European Union stifled buying interest across financial markets.

At 1pm EST the ASX 200 was ten points or 0.2% ahead at 5281 after earlier advancing as much as 22 points. Gains in gold stocks +2.1%, metals & mining +1.5% and health +0.45% were largely offset by declines in telecoms -0.6%, IT -0.4% and consumer discretionary -0.4%.

Trading activity has fallen away this week across financial markets ahead of tonight's finely balanced EU vote. The S&P 500 in the US last night faded to a final loss of 0.17%. The VIX, Wall Street's volatility index, rose to a four-month peak.

“Financial market participants are holding their collective breath,” Sharon Zollner, senior economist at ANZ Bank New Zealand, told Bloomberg. “With liquidity already lower and volatility higher, a leave vote, should it eventuate, would most certainly throw the cat among the pigeons. Even a stay vote would cause some volatility as hedges are unwound.”

Asian markets were mixed but little changed. China's Shanghai Composite eased 0.36%, Hong Kong's Hang Seng added 0.33% and Japan's Nikkei gained 0.48%. Dow futures were recently ahead a bullish 74 points or 0.42%.

Crude oil futures rallied another 44 cents or 0.9% this morning to US$49.57 a barrel. Gold futures were $1.90 or 0.15% weaker at US$1,268.10 an ounce. The dollar was buying 75.22 US cents.


Risk assets are pointing to a 'Stay' vote tonight (crude, US futures up, gold down) , but Asian markets, including the ASX don't look keen to pre-empt. Tomorrow should be interesting. Trading: been nudging and nurdling all morning (thank-you Duckworth-Lewis). Pinched runs from CHK, PRU and RAP. Needed two swings to get a profit out of TV2. Solid session.