daytrading nov 26 afternoon

Thanks Endless.

Half-time round-up:

The share market shook off early weakness to advance for a third day following a mixed close on Wall Street.

At lunchtime the ASX 200 was 11 points or 0.2% higher at 5364 as gains in gold stocks +1.6%, financials +0.6% and defensive sectors outweighed declines in metals & mining -0.2%, property trusts -0.3% and industrials -0.3%.

"A lack of headline risk, company earnings releases and any major economic data releases will likely see the market track sideways in the near-term," Rivkin global analyst Tim Radford told Fairfax. "Although the market does look overbought, it would be very positive to see US equities track sideways for a little while. The ASX 200 index will likely remain in a trading range between 5250 and 5450 for the next few sessions. Evidence of late session selling yesterday highlights there is not enough buying momentum or interest to push the broader equity market to new 52-week highs at the moment."

Asian markets were mixed. China's Shanghai Composite slipped 0.1%, Hong Kong's Hang Seng gained 0.2% and Japan's Nikkei lost 0.79%. Dow futures were recently up 18 points or 0.1%.

Crude oil futures rallied another 15 cents this morning to US$94.31 a barrel as the market continued to recover from news of a weekend deal to cap Iran's nuclear program. Spot gold firmed $4.20 to US$1,252.40 an ounce. The dollar was buying 91.96 US cents.



Give me a decent bloodbath any day over these middling low-volume sessions. If it gets any slower I'll have to do my Christmas shopping. Nooooooooooo!!! Got a day's wage out of NMI but should have done better, given the scale of the rebound.