Interdum stultus opportuna loquitur...

Tuesday, January 04, 2005

OzRant: Another Record Despite Energy, Commodity Weakness

Note - from June 24th 2009, this blog has migrated from Blogger to a self-hosted version. Click here to go straight there.

I'm having to make do with an old version of the OzRantMaker, which annoys the hell out of me. All of the XSO stuff has somehow made its way into the aether. Oh well... here we go...

Major Market Indices

The All Ordinaries didn't go for its usual, futures-led, gush out of the gate... for the first half hour it had a bit of a rest, testing 4050 (it ticked just below it), then the futures led the reversal and it managed to get it to stick. The chart tells the story though - with one index-arb-led bust higher at about 10:30 a.m., and two little squirts in the afternoon doing all the day's driving. That's the sign of a thin advance. Check out the chart:

XAO Intraday 15 minute chart

On the daily, though, the market is clearly running out of steam. There is no catalyst for an upside breakout that will stick - at least none that's obvious at the moment.

All Ords weekly Chart

So anyhow... another up day, another new record high and record close... what more could you ask for?

XAOAll Ordinaries4060.77.60.19%0
XTLS&P/ASX 202157.81.50.07%0
XFLS&P/ASX 503982.56.50.16%0
XTOS&P/ASX 1003301.85.80.18%0
XJOS&P/ASX 2004058.680.2%0
XKOS&P/ASX 3004063.87.70.19%0
XMDS&P/ASX Mid-Cap 504086.910.10.25%0
XSOS&P/ASX Small Ordinaries2299.97.70.34%0

All Ordinaries Market Internals

Advancing Volume 109m
Declining Volume 99m

Broad Market Internals

Considering the daily change, the overall breadth and internals aren't that flash. Chart-wise, the market is utterly exhausted. It reminds me of a five year old kid... "No, I'm not tired... I don'twanna have a sleep". Next big move: down, and down hard. Probably starting in about a week and a half, if the US can regather its skirts and try for one last shot at Dow 11K redux.

Total Traded Value126612660
New 52 Week Highs67670
New 52 Week Lows12120
Equity Call Option Volume38701387010
Equity Put Option Volume30765307650

S&P/ASX200 GICS Sector Indices

The top sectors were led by Information Technology which gained 2.05% to 392.70 points... are we all Americans now? Do we have to undertake the flight to shite as well?

The leaders (by percentage gain) in the sector were -

  • Computershare CPU), +$0.19 (3.35%) to $5.86 on volume of 938 thousand shares - on news that ASX volumes were at a record (ASX was also up strongly to a new record high);
  • Infomedia (IFM), +$0.02 (2.63%) to $0.78 on volume of 252 thousand shares;
  • Baycorp (BCA), +$0.03 (0.97%) to $3.11 on volume of 9 thousand shares;
  • ERG (ERG), -$0.00 (0%) to $0.29 on volume of 352 thousand shares;
  • Myob (MYO), -$0.00 (0%) to $1.35 on volume of 1.65 million shares;

Second in the sector leadership stakes was Utilities which gained 1.91% to 4584.60 points. The sector leaders were -

  • AGL (AGL), +$0.35 (2.55%) to $14.05 on volume of 1.6 million shares;
  • Alinta Gas (ALN), +$0.20 (2.43%) to $8.43 on volume of 506 thousand shares;
  • Pacific Hydro (PHY), +$0.03 (0.75%) to $4.03 on volume of 141 thousand shares;
  • Aust Pipeline Trust (APA), -$0.00 (0%) to $3.28 on volume of 31 thousand shares;
  • Energy Development Fpo (ENE), -$0.00 (0%) to $3.29 on volume of 38 thousand shares;

The bronze today went to Telecommunications which gained 1.08% to 1772.10 points. Leading the sector were -

  • Telecom NZ (TEL), +$0.08 (1.42%) to $5.70 on volume of 446 thousand shares;
  • Telstra Corporation (TLS), +$0.05 (1.02%) to $4.96 on volume of 12.01 million shares;

The worst-performed sector today was Materials which lost 0.39% to 6609.30 points. The worst performed stock in the sector were -

  • Capral (CAA), -$0.12 (4.98%) to $2.29 on volume of 139 thousand shares;
  • Kimberley (KIM), -$0.03 (3.09%) to $0.94 on volume of 551 thousand shares;
  • Lihir (LHG), -$0.03 (2.59%) to $1.13 on volume of 7.89 million shares;
  • Oxiana (OXR), -$0.02 (2.02%) to $0.97 on volume of 2.68 million shares;
  • and
  • Orica (ORI), -$0.36 (1.77%) to $20.01 on volume of 248 thousand shares.

Capral's decline continued - recall that on the heels of profit warnings for the full year, CAA announced that it's CEO, Strange Gregory (Greg L'Estrange)... oops, I mean he resigned.... yeeeesss, that's right....

Even given the ordinary performance of Materials stocks, there were still some that did pretty well:

  • Excel Coal (EXL), +$0.26 (5.57%) to $4.93 on volume of 592 thousand shares;
  • Great Southern Plantations (GTP), +$0.08 (1.9%) to $4.29 on volume of 156 thousand shares;
  • Rio Tinto (RIO), +$0.68 (1.74%) to $39.80 on volume of 1.07 million shares;
  • James Hardie (JHX), +$0.11 (1.64%) to $6.81 on volume of 860 thousand shares;
  • CSR (CSR), +$0.04 (1.5%) to $2.70 on volume of 725 thousand shares;

Just in front of the last place on the sector table was Consumer Staples which lost 0.23% to 5615.90 points. The leaders (by percentage gain) in the sector were -

  • AWB (AWB), +$0.08 (1.76%) to $4.63 on volume of 317 thousand shares;
  • Fosters (FGL), +$0.05 (0.86%) to $5.84 on volume of 2.2 million shares;
  • Coca Cola Amatil (CCL), +$0.07 (0.86%) to $8.20 on volume of 1.01 million shares;
  • Ridley (RIC), +$0.01 (0.74%) to $1.36 on volume of 69 thousand shares;
  • Futuris (FCL), +$0.01 (0.46%) to $2.17 on volume of 970 thousand shares;
CodeGICS SectorClose+/-%Volume
XIJInformation Technology392.77.92.05%0
XPJProperty Trusts1852.816.40.89%0
XDJConsumer Discretionary24459.70.4%0
XXJASX200 ex Property Trusts4851.410.10.21%0
XSJConsumer Staples5615.9-13.2-0.23%0

All Ordinaries Volume Leaders

Code Name Close +/- % Volume
JRV Jervois 0.038 0.01 35.71% 168.74m
RRS Range Res 0.06 0.004 7.55% 157.38m
OPM Optum 0.004 -.001 -20% 21.36m
ZYL Zylotech 0.01 UNCH 20.81m
CUO Copperco 0.023 UNCH 16.53m

All Ordinaries Top Gainers

Chemeq was one of the "story stocks" of the day, another "buy the impending trading halt" story. Doubtless this one will spike on re-listing as well... just like Metabolic Pharmaceuticals.

CAGCape Range0.04 0.003 8.11%115000
CLTCellnet Group1.74 0.10 6.1%95498
ANCAngus And Coote10.7 0.60 5.94%264
EXLExcel Coal4.930.265.57%591897

All Ordinaries Top Losers

No huge surprises in the loss column tonight - Energy, Base Metals and Gold Producers.

ERA Energy Resources 6.05-0.54-8.19%1000
GGNGallery Gold0.38-0.03-7.32%1.26m
PNA Pan Aust Resources 0.15-0.01-6.25%2.3m

Elsewhere in the Region...

Honkers down pretty hard - all 33 major HSI index members were down, with
  • Lenovo off 4.3%
  • COSCO down 3.19%
  • CNOOC falling 2.99% and
  • Li & Fung down 2.67%.

Japan recovered from significant early weakness: down 57 points in the first hour. It ran consistently upward until the lunchtime interval. It opened with a gap up after lunch, but has softened back (it's still not closed, of course). It's still up 25-odd points at time of writing.

Nikkei Intraday 5 minute chart

New Zealand had a little gallop, exhibiting some early weakness but then rallying through the session to close up 17 points.

NZFE Intraday 5 minute chart

New ZealandNZSE503064.43917.530.58%0
JapanNikkei 22511517.7528.990.25%41042
SingaporeStraits Times2068.3-1.85-0.09%40.82m
Hong KongHang Seng14059.36-178.06-1.25%251.23m
MalaysiaKLSE Comp899.68-4.16-0.46%14.59m

Main SFE Futures Contracts

SPI05M SPI200 Index SFE4075190.47%8667
IR05M 90-day Bank Bills SFE94.59-0.03-0.03%27297
YT05M 3-yr Bond SFE94.72-0.13-0.14%124594
XT05M 10-yr Bond SFE94.53-0.13-0.14%43641