1. Most Discussed
  2. Gainers & Losers

Daytrading Feb 11 afternoon

  1. highlandlad

    8,241 Posts.

    Thanks Beany and morning regulars.


    Half-time round-up:

    Shares declined for a third day as poorly-received earnings from market heavyweights CBA and CSL helped drag the index further from last week's near-seven-year high.

    At lunchtime the ASX 200 was 36 points or 0.6% in the red at 5766 on one of the biggest days of the domestic corporate reporting season. CBA was the biggest weight on the index, pulling the financials sector 0.3% lower. Health was the worst of the sectors, tumbling 3.9% as index component CSL fell more than 8%. OZL, SUN and MCR were other companies to lose ground after delivering profit updates. DMP, AGL, SGP, GMA and LEI rallied on their results.

    The decline came despite strong domestic economic data, including a jump in consumer confidence and better-than-expected home loans. Optimists outnumbered pessimists this month for the first time in a year, according to the WBC-MI index of consumer sentiment. The index rallied 8% to 100.7. Westpac chief economist Bill Evans said the result was "much stronger than we had expected" and attributed the jump to falling fuel prices and a Reserve Bank rate cut. Home loans increased 2.7% during December from the month before, exceeding expectations for a rise of 2%.

    China's Shanghai Composite edged up 0.34% and Hong Kong's Hang Seng down 0.1%. Trading on Japan's Nikkei was suspended for a public holiday. Dow futures were recently ahead five points or less than 0.1%.

    Crude oil futures bounced 74 cents this morning to US$50.76 a barrel. Spot gold rose $4.50 to US$1,236.70 an ounce. The dollar was buying 77.92 US cents.


    Plenty of room for profit-taking at these levels, so no great surprise to see the market pulling back. Personally I wish it would do it with a bit more vigour. I got nothing today but a repetitive strain disorder from flicking through charts in search of a trade. Had a close look at both DML and OIL but wanted each a pip lower. Should have caught the second bounce in CSL but was distracted when the opportunity came. Regrets, I've had a few...

DISCLAIMER:
Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.

Top

Thank you for visiting HotCopper

We have detected that you are running ad blocking software.


HotCopper relies on revenue generated from advertisers. Kindly disable your ad blocking software to return to the HotCopper website.

I understand, I have disabled my ad blocker. Let me in!

Need help? Click here for support.