Bit of an announcement to make, folks. (Regular half-time report follows below.) We're going to need a new 'pre-market' thread-opener from next week.
After seven years at the helm I face a change of circumstances and will regretfully have to stand down from the early shift. My wife has taken a full-time job commencing on Monday. That means I'll be doing the school run, making breakfasts/lunches, combing hair, brushing teeth, etc. Something has to give, and sadly the pre-market wrap is it. Apologies for the short notice - only just had confirmation that the job is going ahead.
So the Day Trading forum needs another sucker who is reliable, ideally not prone to power cuts and is willing to get up earlier than most to get the pre-market thread off to a healthy start. We serve not for wealth or glory but for the greater good. (Benefits include thumbs, followers... um...?)
There is no reason why the existing format has to continue, other than that it seems to work pretty well and it's good to start the thread with a 'stock-neutral' post before the ramping begins. Cutting and pasting reports from other websites may be possible, but it's important for copyright reasons to credit sources, provide links and respect paywalls. Otherwise HotCopper may hear from lawyers. The Mods might be able to shed more light on what is acceptable? I'm happy to supply links to the sources I use to compile these wraps.
Just to be clear, this isn't a farewell notice - I'll be around later each day and will continue with the afternoon launch. I'm just losing the extra hour in the mornings I used to compile the pre-market launch. Family needs it back.
It's been a privilege to serve these seven years and help the Day Trading forum grow from Nikko's original daily posts in the General forum into the thriving, independent centre of excellence, wild speculation and blind hope it is today. Change is healthy. It will be good to hear another perspective. Who knows what the thread can become in the years ahead. We'll likely need a trophy room for all the Nobel prizes, Oscars, Emmys, Olympic medals, knighthoods, etc. What? I'm an optimist.
Half-time round-up:
Australian shares joined a regional rally this morning, recouping the best part of two days of falls as yield stocks advanced.
At 1pm EST the ASX 200 was trading 42 points or 0.8% ahead at 5236, with telecoms +2%, health +1.3% and financials +1.3% leading the rally. Metals & mining lost 1.7%, materials 0.7%, energy 0.4% and gold 0.4%.
Asian markets rallied after Wall Street suspended trading for tonight's Thanksgiving market holiday. China's Shanghai Composite improved 0.29%, Hong Kong's Hang Seng 0.96% and Japan's Nikkei 0.59%. Dow futures were recently ahead 18 points or 0.1%.
“US economic data was in line with expectations [overnight] and provides some comfort,” Mitsushige Akino, executive officer at Ichiyoshi Asset Management in Japan, told
Bloomberg. "Investors expect markets will rise after the US rate hike since uncertainty will be dispelled. They want to buy stocks now.”
Crude oil futures edged up ten cents this morning to US$43.14 a barrel. Spot gold was $2.20 firmer at US$1,072.20 an ounce. The dollar was buying 72.29 US cents.
