daytrading march 14 afternoon

Thanks Endless.

Half-time round-up:

The share market joined a global sell-off this morning, falling to a four-week low as developments in China and Ukraine cruelled risk appetite.

At lunchtime the ASX 200 was 60 points or 1.1% lower at 5352 after earlier marking its lowest point since February 14. The decline was roughly in line with falls on US and European markets overnight.

"Markets are coming off amid concerns over China's economy slowing and the Ukraine situation," Tim Radford, strategist at Rivkin Securities, told Bloomberg. "I think the concerns are overdone. Markets had a pretty good run and people are taking some risk off the table."

The retrace left no sector untouched. Among the worst were I.T. -1.6%, materials -1.5%, consumer staples -1.4% and consumer discretionary -1.4%.

China's Shanghai Composite dropped 0.7%, Hong Kong's Hang Seng 0.78% and Japan's Nikkei 2.52%. Emini Dow futures were recently up 19 points or 0.1%.

Spot gold advanced another $2.90 this morning to US$1,375.20 an ounce. Crude oil futures slipped 14 cents to US$98.13 a barrel. The dollar was buying 90.3 US cents.


Be nice to see another bounce of the lows like Wednesday, but it's slow coming if it's coming at all. If it happens, I have a few runners in CSR, PT, CWN and ORI. Three out of four are marginally ahead but not by enough to warrant much of a celebration. The best bounce I found was in DOW and that was the one where I got a fraction of the shares I ordered. Oh, the injustice.