Daytrading Feb 9 afternoon

  1. 8,551 Posts.
    Thanks Beany and morning regulars.

    Half-time round-up:

    The share market looks set to end its record run after weak Chinese trade data weighed on resource stocks and the latest developments in the Greek crisis dragged down US equity futures.

    At lunchtime the ASX 200 was 36 points or 0.6% lower at 5784 and on course to break a 12-session winning run, the longest in the index's 15-year history. Health +1.2%, IT +0.5% and energy +0.2% were the only sectors to make headway after the outlook for the week was clouded by a test of Tony Abbott's leadership, dire Chinese export and import figures and a belligerent stance from Greece's Prime Minister ahead of debt negotiations. Gold stocks -2.9%, property trusts -1.8% and metals & mining -1.3% were hit hardest.

    US futures retreated this morning following weekend developments in China and Greece. Overnight, Greek Prime Minister Alexis Tsipras announced a range of measures that put the nation at odds with international lenders. Read more here. Dow futures were recently down 77 points or more than 0.4%.

    Most Asian markets retreated after China announced sharp deteriorations in both exports and imports last month. China's Shanghai Composite fell 0.6%, Hong Kong's Hang Seng was off 0.78% and Japan's Nikkei added 0.21%.

    Crude oil futures cents rose 60 cents or 1.2% this morning to US$52.31 a barrel. Spot gold was $5.70 stronger at US$1.239 an ounce. The dollar was buying 77.67 US cents.

    Gold looks to be rebounding on the possibility that the Greek debt stand-off is about to get nasty. Oil appears to be going on with its recent recovery. Trading: a thoroughly mediocre morning's work. Got something out of GMG but there was enough trading range to do much better. Missed PYL by holding out for a better entry. Took FXJ in the expectation that the dip would bring in buyers, but it looks like some of the instos who bought Rinehart's stake are happy to dump for a slim profit. Either that or Gina has been the only buyer over the last few months.
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