Interdum stultus opportuna loquitur...

Monday, September 12, 2005

OzRant: An Outrage.

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

I'm glad that the government decided to imprison that pesky American protestor; the public needs to be provided with overwhelming evidence of flagrant abuse of power and violation of individual liberties. The fact that the 'Opposition' has not exploded with absolute outrage, simply reinforces the fact that any politician from a major party is, first and foremost, a parasitic piece of shit whose primary interest is the acquisition and extension of State power.

And spare me the images of Death-Mask "My Daughter Loves Mossad Agents Long-Time" Ruddock pretending that the issue was one of 'national security': if that's the case, how the fuck did the bloke get into the country in the first place?

National security - the ultimate 'get-out-of-explaining-the-question' gambit. The old "We have all the evidence, but it's a national security matter so I can't show it to you". That was the fave of another lying piece of shit - Phony B.Liar - in the runup to Iraq.

The writing was already on the wall - as a country we've been in the 'correct line' camp for a decade with respect to things like Holocaust research; regardless of your view on the matter, banning and criminalising dissent on anysubject is a step on the path to tyranny. But actually going to the extent of imprisoning dissidents is the type of revelation that the public needs if we are ever to rip out the political system by the roots.

Of course public opinion will actually be said to be supportive of this deplorable act; the same sort of 'Old Maid' mentality that resulted in 50-something women sending white feathers to young men during the 1940s, will result in schoolmarmish blabberings of "Well, he shouldn't have..."

Shouldn't have what, exactly? Shouldn't have pointed out that our little Chimpanzee was led by the toungue into a genuine War Crime? (I say 'led by the tongue' because Howard's tongue was wedged tightly into George Bush's sphincter in the runup to the launch of the illegal war of aggression in Iraq... Dubya likes it like that, if his penchant for evenings-in with he-whore Jeff Gannon is any indication).

Good Germans - that's what the Howard Government wants. In fact it's what the State always wants: people who will 'validate' the government's policy, even if that policy involves rounding up 'undesirables"... in other words, the State wants everyone to behave like post-menopausal women. Don't ask any questions when the fellows with submachine pistols knock on your neighbours' door in the night...

Imagine the outrage there would be if a senior politician declared that students couldn't wear yarmulkes at government-funded schools and Universities? Yet anyone who decries the proposed ban on Muslim headscarves is considered "suspect".

Anyhow - as I say... the 'decloaking' of totalitarianism is an important first step in its eventual destruction. I just hope Howard is still alive and enjoying a quiet retirement when the system is overthrown; then he can be dragged through the streets on his way to trial - and then executed (the case is insurmountable... the trial would only be to ensure no claims of summary judgement, and to comply with Human Rights charters to which Australia is a signatory - and which Howard's government just violated).

Only 4 more sleeps until News Corpse is removed from the indices. Happy days; the valuation metrics of the entire market will rise as a result.

There are other things to be thankful for - we are not living in the US, where September 11th is now a festival where ghoulish politicians feast on the last chunks of rotting flesh on the victims' corpses, and suck the last bit of marrow from the long bones of the dead... all the while pissing on the last vestiges of the noble idea for which the Founders fought and wiping their arses on the Bill of Rights.

Major Market Indices

The broad market - the ASX All Ordinaries (XAO) - rose by 4.80 points (0.11%), finishing at 4437.50 points. The index hit an intraday high of 4446.00 (4450-ish) at 10:25 a.m., and its low was 4431.4, set just before midday.

Total volume traded on the ASX was 860 million units, 11.6% below its 10-day average. Of the 483 stocks in the index, 217 rose while 154 fell. Volume was tilted in favour of the gainers by a margin of 1.5:1, with 210.69million shares traded in gainers while 141.53million shares traded in the day's losers ..

The Index that forms the cash basis for the SFE's Share Price Index Futures - the S&P/ASX 200 (XJO) - rose by 3.70 points (0.08%), finishing at 4471.80 points.

The "heavy hitters" of the Australian market - the ASX 20 Leaders (XTL) - fell by 1.70 points (-0.07%), finishing at 2367.50 points. Within the index members, there were 11 that rose, and 8 losers. Total volume in rising issues within the ASX20 amounted to 43.26 while volume in the losers totalled 55.98m units.

The major winners in the "big guns" were -

  • Foster's Group (FGL), +$0.070 (1.23%) to $5.740 on volume of 4.9m shares;
  • Amcor (AMC), +$0.060 (0.91%) to $6.680 on volume of 8.9m shares;
  • Rio Tinto (RIO), +$0.370 (0.73%) to $51.270 on volume of 1.53m shares;
  • Woodside Petroleum (WPL), +$0.190 (0.6%) to $31.990 on volume of 1.12m shares; and
  • Westfield Group (WDC), +$0.100 (0.58%) to $17.200 on volume of 3.99m shares.

The following stocks made up the biggest percentage losers in the big-guns:

  • Telstra Corporation (TLS), -$0.05 (1.15%) to $4.30 on volume of 39.17m shares;
  • Woolworths (WOW), -$0.18 (1.1%) to $16.12 on volume of 3.21m shares; and
  • News Corporation (NWSLV), -$0.12 (0.56%) to $21.18 on volume of 570,000 shares; and
  • Australia And New Zealand Banking Group (ANZ), -$0.11 (0.48%) to $22.65 on volume of 4.95m shares; and
  • Westpac Banking Corporation (WBC), -$0.09 (0.44%) to $20.39 on volume of 4.11m shares.

At the smaller end of the market's capitalisation scale, the ASX Small Ordinaries Index (XSO) rose by 16.90 points (0.66%), finishing at 2595.10 points - a noticable bit of 'rotation' out of the big-caps and towards the small end. Dont' get too excited though - I doubt that this is a 'broadening of the advance'... more likely a last desperate 'beta-chase' before momentum fails. 

The major winners in the "pop-guns" were -

  • Nylex (NLX), +$0.020 (8.16%) to $0.265 on volume of 9.99m shares;
  • Resolute Mining (RSG), +$0.055 (5.95%) to $0.980 on volume of 246,000 shares; and
  • Dragon Mining (DRA), +$0.010 (5.88%) to $0.180 on volume of 2.8m shares; and
  • Beach Petroleum (BPT), +$0.045 (5.81%) to $0.820 on volume of 3.7m shares; and
  • Clough (CLO), +$0.025 (5.26%) to $0.500 on volume of 286,000 shares.

The losingest-little-guys for the session were (in order of decline):

  • Schaffer Corporation (SFC), -$0.650 (11.93%) to $4.800 on volume of 34,000 shares;
  • Genetic Technologies (GTG), -$0.035 (7.53%) to $0.430 on volume of 307,000 shares; and
  • Norwood Abbey (NAL), -$0.020 (4.71%) to $0.405 on volume of 150,000 shares; and
  • GWA International (GWT), -$0.150 (4.31%) to $3.330 on volume of 394,000 shares; and
  • Funtastic (FUN), -$0.070 (3.23%) to $2.100 on volume of 203,000 shares.
Index Changes
XAOAll Ordinaries4437.54.80.11%457.45m
XTLS&P/ASX 202367.5-1.7-0.07%103.52m
XFLS&P/ASX 504364.20.80.02%172.23m
XTOS&P/ASX 1003620.40.90.02%261.84m
XJOS&P/ASX 2004471.83.70.08%330.7m
XKOS&P/ASX 3004466.63.80.09%0
XMDS&P/ASX Mid-Cap 5044863.10.07%0
XSOS&P/ASX Small Ordinaries2595.116.90.66%151.49m

All Ordinaries Market Internals

Market Breadth
Advancing Volume43.26m121.76m149.92m210.6963.73382.39
Declining Volume55.98m110.49m133.69m141.5324.78283.71

S&P/ASX200 GICS Sector Indices

The top sector for the day was XEJ Energy which gained 0.91% to 10076.60 points. The sector was helped by

  • Caltex Australia (CTX), +$0.520 (2.88%) to $18.580 on volume of 310,000 shares;
  • Hardman Resources (HDR), +$0.050 (2.22%) to $2.300 on volume of 2.73m shares;
  • Tap Oil (TAP), +$0.050 (1.93%) to $2.640 on volume of 1.28m shares;
  • Santos (STO), +$0.180 (1.64%) to $11.130 on volume of 1.7m shares; and
  • Roc Oil Company (ROC), +$0.030 (1.27%) to $2.400 on volume of 381,000 shares.

Second in the sector leadership stakes was XPJ Property Trusts which gained 0.64% to 1868.00 points. The sector leaders were -

  • Bunnings Warehouse Property Trust (BWP), +$0.040 (1.98%) to $2.060 on volume of 178,000 shares;
  • Valad Property Group (VPG), +$0.025 (1.79%) to $1.420 on volume of 2.36m shares;
  • Centro Properties Group (CNP), +$0.080 (1.33%) to $6.080 on volume of 2.06m shares;
  • Stockland (SGP), +$0.060 (1%) to $6.060 on volume of 2.04m shares; and
  • Ing Industrial Fund (IIF), +$0.020 (0.89%) to $2.270 on volume of 496,000 shares.

The bronze today went to XUJ Utilities which gained 0.38% to 5190.40 points. The sector was led by

  • Energy Developments (ENE), +$0.130 (2.9%) to $4.620 on volume of 392,000 shares;
  • Australian Pipeline Trust (APA), +$0.050 (1.38%) to $3.670 on volume of 185,000 shares;
  • Envestra (ENV), +$0.015 (1.24%) to $1.225 on volume of 666,000 shares;
  • Alinta (ALN), +$0.050 (0.45%) to $11.200 on volume of 400,000 shares; and
  • Diversified Utility And Energy Trusts (DUE), +$0.010 (0.37%) to $2.710 on volume of 890,000 shares.

The worst-performed sector today was XTJ Telecommunications which lost 1.14% to 1562.50 points. The sector was dragged lower by both of its components - 

  • Telstra Corporation (TLS), -$0.050 (1.15%) to $4.300 on volume of 39.17m shares; and
  • Telecom Corporation Of New Zealand (TEL), -$0.060 (1.08%) to $5.480 on volume of 1.38m shares.

Just in front of last place on the sector table was XIJ Information Technology which lost 0.46% to 431.90 points. The sector was pulled down by

  • IRESS Market Technology (IRE), -$0.070 (1.56%) to $4.420 on volume of 79,000 shares;
  • Infomedia Ltd (IFM), -$0.005 (0.94%) to $0.525 on volume of 280,000 shares;
  • Computershare (CPU), -$0.060 (0.89%) to $6.680 on volume of 2.49m shares;
  • MYOB (MYO), -$0.000 (0%) to $1.060 on volume of 176,000 shares; and
  • Baycorp Advantage (BCA), -$0.000 (0%) to $3.590 on volume of 2.61m shares.
Sector Indices
CodeGICS SectorClose+/-%Volume
XPJProperty Trusts186811.90.64%35.92m
XSJConsumer Staples5844.850.09%15.74m
XDJConsumer Discretionary2338.1-3.1-0.13%22.93m
XXJASX200 Financials ex Property Trusts5350-7.9-0.15%37.23m
XIJInformation Technology431.9-2-0.46%10.48m

All Ordinaries Major Movers

All Ords Volume Leaders
TLSTelstra Corporation4.3-0.05-1.15%39.17m
GBGGindalbie Gold0.140.0327.27%18.74m
LHGLihir Gold1.520.053.06%15.46m
BHPBHP Billiton20.20.010.05%14.53m
QTKQuiktrak Networks0.330.1366.67%13.54m
NDONido Petroleum0.1500%10.2m
All Ords Percentage Gainers
DOMDominion Mining0.410.0615.71%514740
BTABiota Holdings0.860.1215.54%7.74m
GAPGale Pacific1.70.127.59%707629
UNIUnilife Medical Solutions0.570.046.54%313377
All Ords Percentage Decliners
SFCSchaffer Corporation4.8-0.65-11.93%33576
CLTCellnet Group1.06-0.1-8.26%398467
GTGGenetic Technologies0.43-0.04-7.53%307000
TMOTomato Technologies0.39-0.02-4.88%224000

Elsewhere in the Region...

Regional Indices
New ZealandNZSE503367.117-18.87-0.56%30.28m
JapanNikkei 22512896.43204.391.61%0
SingaporeStraits Times2318.9217.640.77%0
Hong KongHang Seng15220.3854.610.36%86.26m
MalaysiaKLSE Comp916.64-1.28-0.14%0