Interdum stultus opportuna loquitur...

Tuesday, September 13, 2005

OzRant: Smell the Decay...

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

Australia should have a constitutional amendment that forces any politician who advocates war, to go and fight the bloody thing themselves... their children should also be drafted (unless they publicly disavow their parent's platform). If that was the case, the chicken-shit vermin who gave us Iraq would not have done so: so many of them were gutless wonders when they had the chance to go - getting strings pulled, finding ways to puss out. 

Where was Howard during Viet Nam? (I know - I'm just curious as to who else does).

Major Market Indices

The broad market - the ASX All Ordinaries (XAO) - rose by 18.80 points (0.42%), finishing at 4456.30 points. The index dipped to an early low at 4431.8 around 10:45 a.m.; this second dip into the low 4430's made a 'W' on the charts that was as pretty as the ones Howard the Chimp puts on his fawning birthday congrats to George the Turd, PUS. I've never understood why people do this stupid thing of scratching out the actual addressee and writing a more-familiar term in its place... why not just have the secretary write "Dear W" right from the outset?

Anyhow - enough about Howard; that piece of subhuman scum ought to be put in a gibbet iron until his flesh rots off and his skeleton is bleached white. Either that, or he ought to be plonked down outside the Green Zone in Baghdad - although you would have to put a sign around his neck for anybody to realise that this pathetic, short, non-descript hole in the air was actually one of the prime enablers in the recent illegal carnage in Iraq. 

Here's a promise - once he is dead I am going to wipe shit on his tombstone. I will fly in, go to wherever they bury the mongrel, and wipe my shit on the tombstone (I will try to spell "Remember Fallujah", but that'll require a massive turd). Then off to find a basin to ditch the gloves, and back on a plane out. This is the only time I'll mention it, so remember this day. Maybe I;ll make a habit of it - Downer's 'resting place' should also be replenished with shit from time to time (as he decays, his 'full-of-shit-ness' level will decline... it's important to ramp it back up).

But I digress...

From the 'W', the market rose until the All Ords touched 4460.50; that coincided with the XJO touching 4500. Can you smell the desperation to keep this thing going? 

Hilarious; shorting now is a 100-500 bet - a 100-point maximum adverse movement, with a 500-point likely profit from any short. It will get even better as the potential upside decays (either through movement upwards, or through elapsed time without such a move). When it's 50:500 I will let you know.

Total volume traded on the ASX was 950 million units, 1.1% below its 10-day average. Of the 483 stocks in the index, 194 rose while 158 fell. Volume was tilted in favour of the gainers by a margin of 2.5:1, with 314.70 million shares traded in gainers while 124.15 million 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 23.30 points (0.52%), finishing at 4495.10 points.

The "heavy hitters" of the Australian market - the ASX 20 Leaders (XTL) - rose by 9.40 points (0.40%), finishing at 2376.90 points. Within the index members, there were 10 that rose, and 8 losers. Total volume in rising issues within the ASX20 amounted to 77.15 while volume in the losers totalled 19.57m units.

The major winners in the "big guns" were -

  • Coles Myer Ltd (CML), +$0.170 (1.7%) to $10.190 on volume of 1.5m shares;
  • BHP Billiton (BHP), +$0.270 (1.34%) to $20.470 on volume of 16.97m shares;
  • Rio Tinto (RIO), +$0.640 (1.25%) to $51.910 on volume of 1.92m shares;
  • Telstra Corporation (TLS), +$0.040 (0.93%) to $4.340 on volume of 32.14m shares; and
  • National Australia Bank (NAB), +$0.270 (0.86%) to $31.660 on volume of 3.55m shares.

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

  • Woodside Petroleum (WPL), -$0.31 (0.97%) to $31.68 on volume of 1.51m shares;
  • Alumina (AWC), -$0.05 (0.83%) to $5.95 on volume of 3.18m shares; and
  • Wesfarmers (WES), -$0.21 (0.54%) to $38.61 on volume of 722,000 shares; and
  • St George Bank (SGB), -$0.14 (0.51%) to $27.41 on volume of 857,000 shares; and
  • News Corporation (NWSLV), -$0.09 (0.42%) to $21.09 on volume of 2.36m shares.

At the smaller end of the market's capitalisation scale, the ASX Small Ordinaries Index (XSO) - the only place where underexploited value exists with any regularity - rose by 5.60 points (0.22%), finishing at 2600.70 points. The major winners in the "pop-guns" were -

  • Sydney Gas Ltd (SGL), +$0.045 (9.18%) to $0.535 on volume of 543,000 shares;
  • Genetic Technologies (GTG), +$0.020 (4.65%) to $0.450 on volume of 187,000 shares; and
  • Sally Malay Mining (SMY), +$0.035 (4.61%) to $0.795 on volume of 1.37m shares; and
  • Kresta Holdings (KRS), +$0.010 (4.55%) to $0.230 on volume of 323,000 shares; and
  • Oceana Gold (OGD), +$0.025 (4.55%) to $0.575 on volume of 1.12m shares.

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

  • Croesus Mining (CRS), -$0.035 (9.09%) to $0.350 on volume of 3.97m shares;
  • Sirtex Medical (SRX), -$0.150 (6.67%) to $2.100 on volume of 52,000 shares; and
  • Silex Systems (SLX), -$0.080 (6.67%) to $1.120 on volume of 254,000 shares; and
  • ERG (ERG), -$0.010 (5.13%) to $0.185 on volume of 2.83m shares; and
  • Mcguigan Simeon Wines (MGW), -$0.230 (5%) to $4.370 on volume of 1.26m shares.
Index Changes
XAOAll Ordinaries4456.318.80.42%531.71m
XTLS&P/ASX 202376.99.40.4%104.33m
XFLS&P/ASX 504387.423.20.53%224.56m
XTOS&P/ASX 100364019.60.54%370.01m
XJOS&P/ASX 2004495.123.30.52%456.19m
XKOS&P/ASX 3004489.422.80.51%0
XMDS&P/ASX Mid-Cap 504512.826.80.6%0
XSOS&P/ASX Small Ordinaries2600.75.60.22%141.96m

All Ordinaries Market Internals

Market Breadth
Advancing Volume77.15m257.55m298.46m314.758.66580.28
Declining Volume19.57m73.25m98.24m124.1548.68235.61

S&P/ASX200 GICS Sector Indices

The top sector for the day was XHJ Healthcare which gained 0.91% to 5822.90 points. The sector was helped by

  • DCA Group (DVC), +$0.130 (3.51%) to $3.830 on volume of 4.17m shares;
  • CSL (CSL), +$0.720 (2.07%) to $35.540 on volume of 448,000 shares;
  • Ramsay Health Care (RHC), +$0.120 (1.25%) to $9.750 on volume of 135,000 shares;
  • Healthscope (HSP), +$0.050 (0.81%) to $6.250 on volume of 1.21m shares; and
  • Ansell (ANN), +$0.080 (0.74%) to $10.880 on volume of 191,000 shares.

Second in the sector leadership stakes was XMJ Materials which gained 0.89% to 8196.80 points. The sector leaders were -

  • Kingsgate Consolidated (KCN), +$0.140 (4.31%) to $3.390 on volume of 228,000 shares;
  • Zinifex (ZFX), +$0.160 (3.97%) to $4.190 on volume of 7.15m shares;
  • Capral Aluminium (CAA), +$0.060 (3.9%) to $1.600 on volume of 75,000 shares;
  • Excel Coal (EXL), +$0.210 (2.84%) to $7.600 on volume of 706,000 shares; and
  • Aquarius Platinum (AQP), +$0.240 (2.58%) to $9.550 on volume of 17,000 shares.

The bronze today went to XTJ Telecommunications which gained 0.86% to 1576.00 points. The sector was led by

  • Telstra Corporation (TLS), +$0.040 (0.93%) to $4.340 on volume of 32.14m shares; and
  • Telecom Corporation Of New Zealand (TEL), +$0.030 (0.55%) to $5.510 on volume of 2.44m shares.

The worst-performed sector today was XEJ Energy which lost 0.39% to 10037.30 points. The sector was dragged lower by

  • Hardman Resources (HDR), -$0.090 (3.91%) to $2.210 on volume of 6.16m shares;
  • Tap Oil (TAP), -$0.080 (3.03%) to $2.560 on volume of 801,000 shares;
  • Oil Search (OSH), -$0.060 (1.73%) to $3.400 on volume of 6.44m shares;
  • Woodside Petroleum (WPL), -$0.310 (0.97%) to $31.680 on volume of 1.51m shares; and
  • Caltex Australia (CTX), -$0.180 (0.97%) to $18.400 on volume of 277,000 shares.

Just in front of last place on the sector table was XUJ Utilities which gained 0.27% to 5204.30 points. The sector was aided by

  • Envestra (ENV), +$0.020 (1.63%) to $1.245 on volume of 361,000 shares;
  • Energy Developments (ENE), +$0.060 (1.3%) to $4.680 on volume of 525,000 shares;
  • Alinta (ALN), +$0.040 (0.36%) to $11.240 on volume of 618,000 shares;
  • Australian Gas Light Company (AGL), +$0.040 (0.28%) to $14.300 on volume of 586,000 shares; and
  • Pacific Hydro (PHY), -$0.000 (0%) to $5.000 on volume of 0,000 shares.
Sector Indices
CodeGICS SectorClose+/-%Volume
XDJConsumer Discretionary2354.416.30.7%41.24m
XIJInformation Technology434.42.50.58%7.38m
XSJConsumer Staples5873.328.50.49%29.06m
XPJProperty Trusts1876.78.70.47%63.3m
XXJASX200 Financials ex Property Trusts5369.219.20.36%54.71m

All Ordinaries Major Movers

All Ords Volume Leaders
LHGLihir Gold1.530.020.99%32.6m
TLSTelstra Corporation4.340.040.93%32.14m
GBGGindalbie Gold0.160.0214.29%28.48m
QANQantas Airways3.280.020.61%20.85m
BHPBHP Billiton20.470.271.34%16.97m
ALLAristocrat Leisure12.500.201.63%16.3m
All Ords Percentage Gainers
UNIUnilife Medical Solutions0.660.0915.79%882124
SGLSydney Gas Ltd0.540.059.18%542693
COUCount Financial1.630.085.16%154300
GTGGenetic Technologies0.450.024.65%187065
All Ords Percentage Decliners
EQMEquatorial Mining6.05-0.61-9.16%10715
CRSCroesus Mining0.35-0.04-9.09%3.97m
SRXSirtex Medical2.10-0.15-6.67%52170
SLXSilex Systems1.12-0.08-6.67%254345
TMOTomato Technologies0.37-0.03-6.41%153632

Elsewhere in the Region...

Regional Indices
New ZealandNZSE503372.8695.750.17%31.18m
JapanNikkei 22512901.955.520.04%0
SingaporeStraits Times2315.52-9.59-0.41%0
Hong KongHang Seng15149.38-50.41-0.33%105.04m
MalaysiaKLSE Comp917.18-1.89-0.21%0