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I mentioned yesterday that it was about time to start looking for short entry positions in this market; today's little pullback is not yet a validation of that view.
Anyhow - I've been somewhat distracted by the discovery in our back yard of a fledgeling bird.
{Note for those in the cities, or the new tract developments such as Craigieburn or Caroline Springs - a "back yard" is an expanse of grass (or weeds) at the rear of the house... from your point of view, think of the point roughly where your rear neighbours' kitchen finishes, and that's where the little bird was found}.
Now folks may smirk, given my rather "Darwinian" view of the battle between domestic animals (such as cats) and "native" fauna - a battle in which Felis Domesticus is kicking some native butt.
While I don't care which species makes it through until tomorrow morning, an individual bird that's about to croak gets whatever attention I can provide: it is yet another time at which the general premise does not flow through to specific circumstances.
So smirk away; meanwhile I will have my index finger covered in waterlogged Vita-Brits, and bird saliva.
Major Market Indices
Economic growth slowing... no real shock there. It's now slowed to the point where it's not growing fast enough to generate enough employment to meet workforce growth.
Ziggy Stardust finally jumped ship - and Telstra shares blasted straight to $5 before slowly hissing air along with the rest of the market.
By the close, TLS had significantly outperformed all the indices of which it is a constituent, despite losing 2c to $4.91 a share. This helped the Telecommunications sector to be the best-performed of the "equity-like equities"... the only better sector today was the bond-like Property Trusts.
The All Ordinaries closed down just under 3/4 of a percent, right at its low tick of the day.
All Ordinaries intraday 1 minute Chart...
| Code | Name | Close | +/- | % | Volume |
| XAO | All Ordinaries | 3914.3 | -28.5 | -0.72% | 749.4m |
| XTL | S&P/ASX 20 | 2080.9 | -21.4 | -1.02% | 173.05m |
| XFL | S&P/ASX 50 | 3826.4 | -35.4 | -0.92% | 287.11m |
| XTO | S&P/ASX 100 | 3164.4 | -26.5 | -0.83% | 420.28m |
| XJO | S&P/ASX 200 | 3899.3 | -32 | -0.81% | 543.38m |
| XKO | S&P/ASX 300 | 3908.3 | -31.8 | -0.81% | 587.92m |
| XMD | S&P/ASX Mid-Cap 50 | 3857.6 | -11.3 | -0.29% | 133.17m |
| XSO | S&P/ASX Small Ordinaries | 2295.1 | -12.9 | -0.56% | 167.65m |
All Ordinaries Market Internals
No huge surprise in the internals today; a heavy tilt towards decliners in the All Ords, with declining volume about 4 times as large as advancing volume. Interestingly, 69% of total All Ordinaries Volume was transacted in the 20 most active stocks.
| Advances | 156 | |
| Declines | 230 | |
| Advancing Volume | 130297689 | |
| Declining Volume | 540557017 |
S&P/ASX200 GICS Sector Indices
The Energy sector was affected quite badly by several factors, not least of which is that BHP Billiton is involving itself in litigation ith Esso regarding the Longford plant explosion a few years back. Add that to the emerging consensus (and incorrect) view that oil prices have peaked for a prolonged period, and you have the recipe for a retrenchment in Energy equities. All 12 sector indices were weaker today.
| Code | GICS Sector | Close | +/- | % | Volume |
| XEJ | Energy | 6990.1 | -172.5 | -2.41% | 45.19m |
| XMJ | Materials | 6523.9 | -53.8 | -0.82% | 135.16m |
| XNJ | Industrials | 4696.7 | -38.4 | -0.81% | 48.63m |
| XDJ | Consumer Discretionary | 2334.2 | -4.3 | -0.18% | 47.1m |
| XSJ | Consumer Staples | 5298.9 | -98.5 | -1.82% | 36.08m |
| XHJ | Healthcare | 4375.4 | -22.2 | -0.5% | 16.49m |
| XFJ | Financials | 4609.8 | -37.1 | -0.8% | 129.05m |
| XIJ | Information Technology | 368.8 | -2.5 | -0.67% | 6.17m |
| XTJ | Telecommunications | 1753.1 | -3.2 | -0.18% | 73.97m |
| XUJ | Utilities | 4264.9 | -10.3 | -0.24% | 5.5m |
| XPJ | Property Trusts | 1770.6 | -2.9 | -0.16% | 58.54m |
| XXJ | ASX200 ex Property Trusts | 4598.4 | -45.7 | -0.98% | 70.51m |
All Ordinaries Volume Leaders
| Code | Name | Close | +/- | % | Volume |
| BBB | B Digital | 0.445 | -0.02 | -3.26% | 120.54m |
| TLS | Telstra Corp Fpo | 4.91 | -0.02 | -0.41% | 69.95m |
| MXA | Maxe-Tec Aust | 0.022 | 0 | 22.22% | 52.84m |
| FCN | Falcon Minerals | 1.06 | -0.22 | -17.19% | 34.7m |
| BHP | Bhp Billiton | 15.27 | -0.18 | -1.17% | 24.64m |
All Ordinaries Top Gainers
| Code | Name | Close | +/- | % | Volume |
| ALK | Alkane | 0.21 | 0.02 | 10.53% | 451242 |
| SPL | Starpharma Hldgs | 0.8 | 0.05 | 6.67% | 189364 |
| PME | Pro Medicus | 1.38 | 0.08 | 6.15% | 159379 |
| LOK | Looksmart | 2.6 | 0.15 | 6.12% | 157139 |
| BOC | Bougainville | 0.27 | 0.02 | 5.88% | 3620 |
All Ordinaries Top Losers
| Code | Name | Close | +/- | % | Volume |
| CNT | Centamin Egypt | 0.265 | -0.03 | -10.17% | 629298 |
| HDR | Hardman Rsc | 1.61 | -0.18 | -10.06% | 24.58m |
| SRI | Sipa Resources | 0.135 | -0.02 | -10% | 592004 |
| BLT | Benitec | 0.54 | -0.05 | -8.47% | 66562 |
| IHG | Intellect Hldgs | 0.036 | 0 | -7.69% | 453400 |
Elsewhere in the Region...
| Country | Name | Close | +/- | % | Volume |
| New Zealand | NZSE50 | 2998.872 | 8.08 | 0.27% | 18.89m |
| Japan | Nikkei 225 | 10779.98 | -119.27 | -1.09% | 52335 |
| Korea | KOSPI | 878.24 | 0.18 | 0.02% | 291739 |
| Singapore | Straits Times | 2028.72 | 1.06 | 0.05% | 72.02m |
| Hong Kong | Hang Seng | 14005.53 | -54.52 | -0.39% | 179.38m |
| Malaysia | KLSE Comp | 911.99 | -5.2 | -0.57% | 35.7m |
Main SFE Futures Contracts
| Code | Instrument | Close | +/- | % | Volume |
| SPI04Z | SPI200 Index SFE | 3906 | -16 | -0.41% | 18103 |
| IR04Z | 90-day Bank Bills SFE | 94.75 | 0.04 | 0.04% | 57458 |
| YT04Z | 3-yr Bond SFE | 95.04 | 0.03 | 0.03% | 113272 |
| XT04Z | 10-yr Bond SFE | 94.79 | 0.02 | 0.02% | 21321 |
