Daytrading Sep 22 afternoon

Thanks Haplo and regulars.

Half-time round-up:

Downbeat US equity futures and a negative morning across Asian markets helped drag the ASX to a five-month low, erasing two days of gains from the end of last week.

At lunchtime the ASX 200 was 56 points or 1% lower at 5377 as the twin pillars of the market - the metals & mining and financial sectors - plumbed multi-month lows. The metals & mining sector slid 1.5% to its lowest point since mid-June. The financials sector (minus property trusts) dropped 1.5% and was on track for its weakest close since March. The only sector to improve was property trusts +0.1%

A soft start to the Asian trading week cast a pall over US futures. China's Shanghai Composite retreated 0.92%, Hong Kong's Hang Seng 1.18% and Japan's Nikkei 0.81%. Dow futures were recently down 71 points or 0.4%.

Crude oil futures slid another 23 cents this morning to US$92.18 a barrel. Spot gold was $2.80 weaker at US$1,213.40 an ounce. The dollar was buying 89.35 US cents.


The XJO seemed to have the July 1 low of 5376 as a target. Looks like a pretty good place for bounce, but those US futures are not helping. If it doesn't hold, the next support level appears to be down around 5300. Difficult times. We need some of 64eheh's good news reports to buck us up. Trading: took me an age to find anything, but patience was eventually rewarded with bounces in NEU and RFX. More lately, took KAR at $3.50. ARI may have found a bottom but I would like to see another day of gains to confirm this bounce. (Also to get back into profit. Ahem.)

Any volunteers please to launch the threads tomorrow (ie, one for the pre-market, one for the afternoon)? I'm taking the day off to entertain drunken Scottish guests. Normal service will resume on Wednesday, but may be hangover-impaired.