Note - from June 24th 2009, this blog has migrated from Blogger to a self-hosted version. Click here to go straight there.
As our French brethren might say, today's SPI trade attempt was a 'pain in ze arse'. (Leave aside for a moment that 'pain' is French for 'bread'... why you would have bread in your arse is beyond me... still, it is more easily understood than 'mal au cul').
But I digress (already?)
What I was getting at is that the SPI short advocated yesterday (for 10:30 a.m. today, Sydney time) was spot on, but the bloody marekt did bupkes thereafter. sure, the target was hit, but it took its bloody time about it.
At 10:29:59 a.m. the SPI was at 4474; the afternoon low was 4462: thus, the 10-point target was hit perfectly. (Read yesterday's OzRant if you need to update yourself as to the time of entry and the exit target). In case you're wondering, that calculates out to almost exactly 12% return-on-margin within a single session - and it's not like you needed to be a brain surgeon to work out how to implement the (non)-tip. I should bottle myself.
Major Market Indices
The broad market - the ASX All Ordinaries (XAO) - rose by 12.30 points (0.28%), finishing at 4425.00 points. The index hit an intraday high of 4429.30 and its low was 4412.7.
In keeping with the usual fixation on horses that accompanies Melbourne Cup day (where secretaries finish the day pissed at a taxi rank with their shoes in their hands), total volume traded on the ASX was a scant 550 million units, 65.3% below its 10-day average. Of the 486 stocks in the index, 183 fell while 160 managed a gain. Volume was tilted in favour of the gainers by a margin of 1.6:1, with 157.89million shares traded in gainers while 100.29million 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 15.00 points (0.34%), finishing at 4474.70 points.
The "heavy hitters" of the Australian market - the ASX 20 Leaders (XTL) - rose by 11.10 points (0.46%), finishing at 2410.80 points. Within the index members, there were 12 that rose, and 6 losers. Total volume in rising issues within the ASX20 amounted to 44.96 while volume in the losers totalled 14.42m units.
The major winners in the "big guns" were -
- QBE Insurance Group (QBE), +$0.290 (1.63%) to $18.090 on volume of 1.94m shares;
- Rio Tinto (RIO), +$0.690 (1.23%) to $57.000 on volume of 1.26m shares;
- Commonwealth Bank Of Australia (CBA), +$0.370 (0.95%) to $39.250 on volume of 4.15m shares;
- Amcor (AMC), +$0.060 (0.9%) to $6.730 on volume of 1.91m shares; and
- Westfield Group (WDC), +$0.140 (0.84%) to $16.750 on volume of 2.01m shares.
The following stocks made up the biggest percentage losers in the big-guns:
- Westpac Banking Corporation (WBC), -$0.170 (0.82%) to $20.580 on volume of 4.25m shares;
- Woodside Petroleum (WPL), -$0.20 (0.63%) to $31.40 on volume of 640,000 shares;
- Coles Myer Ltd (CML), -$0.05 (0.5%) to $9.98 on volume of 987,000 shares;
- AMP Limited (AMP), -$0.02 (0.27%) to $7.27 on volume of 2.13m shares; and
- Wesfarmers (WES), -$0.08 (0.22%) to $35.62 on volume of 610,000 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 - fell by 13.20 points (-0.52%), finishing at 2527.40 points. The major winners in the "pop-guns" were -
- Multiemedia (MUL), +$0.002 (14.29%) to $0.016 on volume of 5.95m shares;
- Housewares International (HWI), +$0.080 (5.26%) to $1.600 on volume of 106,000 shares; and
- Timbercorp (TIM), +$0.110 (4.55%) to $2.530 on volume of 583,000 shares; and
- Energy Developments (ENE), +$0.170 (3.74%) to $4.720 on volume of 501,000 shares; and
- Miller's Retail (MRL), +$0.030 (3.47%) to $0.895 on volume of 909,000 shares.
The losingest-little-guys for the session were (in order of decline):
- Tower (TWR), -$0.300 (14.78%) to $1.730 on volume of 3.58m shares;
- Globe International (GLB), -$0.020 (5.88%) to $0.320 on volume of 100,000 shares; and
- Antares Energy (AZZ), -$0.030 (5.66%) to $0.500 on volume of 550,000 shares; and
- Portman (PMM), -$0.230 (5.18%) to $4.210 on volume of 58,000 shares; and
- Pacifica Group (PBB), -$0.095 (5.05%) to $1.785 on volume of 208,000 shares.
Index Changes
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XAO | All Ordinaries | 4425 | 12.3 | 0.28% | 315.05m |
| XTL | S&P/ASX 20 | 2410.8 | 11.1 | 0.46% | 59.38m |
| XFL | S&P/ASX 50 | 4387.7 | 21.1 | 0.48% | 114.71m |
| XTO | S&P/ASX 100 | 3632.1 | 14.9 | 0.41% | 216.15m |
| XJO | S&P/ASX 200 | 4474.7 | 15 | 0.34% | 281m |
| XKO | S&P/ASX 300 | 4468.7 | 14.5 | 0.33% | 0 |
| XMD | S&P/ASX Mid-Cap 50 | 4445.5 | -0.7 | -0.02% | 0 |
| XSO | S&P/ASX Small Ordinaries | 2527.4 | -13.2 | -0.52% | 95.11m |
All Ordinaries Market Internals
Market Breadth
| ASX20 | XTO | XJO | XAO | XSO | Market | |
|---|---|---|---|---|---|---|
| Advances | 12 | 55 | 88 | 160 | 53 | 402 |
| Declines | 6 | 35 | 85 | 183 | 95 | 420 |
| Advancing Volume | 44.96m | 127.89m | 142.47m | 157.89 | 27.25 | 263.47 |
| Declining Volume | 14.42m | 61.8m | 86.68m | 100.29 | 39.01 | 212.75 |
S&P/ASX200 GICS Sector Indices
The top sector for the day was XHJ Healthcare which gained 0.96% to 5873.20 points. The sector was helped by
- CSL (CSL), +$1.440 (3.84%) to $38.940 on volume of 769,000 shares;
- Healthscope (HSP), +$0.150 (2.63%) to $5.850 on volume of 909,000 shares;
- Ramsay Health Care (RHC), +$0.190 (2.16%) to $9.000 on volume of 348,000 shares;
- Sigma Company (SIG), +$0.210 (1.75%) to $12.180 on volume of 90,000 shares; and
- Chemeq (CMQ), +$0.010 (0.94%) to $1.070 on volume of 20,000 shares.
Second in the sector leadership stakes was XMJ Materials which gained 0.84% to 8299.50 points. The sector leaders were -
- Timbercorp (TIM), +$0.110 (4.55%) to $2.530 on volume of 583,000 shares;
- Rinker Group (RIN), +$0.460 (3.05%) to $15.520 on volume of 3.1m shares;
- Gunns (GNS), +$0.070 (2.53%) to $2.840 on volume of 1.34m shares;
- Orica (ORI), +$0.340 (1.78%) to $19.460 on volume of 698,000 shares; and
- Onesteel (OST), +$0.060 (1.7%) to $3.580 on volume of 1.44m shares.
The bronze today went toXPJ Property Trusts which gained 0.47% to 1816.60 points. The sector was led by
- Mirvac Group (MGR), +$0.070 (1.83%) to $3.890 on volume of 2.85m shares;
- CFS Gandel Retail Trust (GAN), +$0.030 (1.61%) to $1.895 on volume of 2.07m shares;
- Macquarie Ddr Trust (MDT), +$0.015 (1.35%) to $1.130 on volume of 2m shares;
- Stockland (SGP), +$0.080 (1.31%) to $6.190 on volume of 3.01m shares; and
- Ing Industrial Fund (IIF), +$0.020 (0.87%) to $2.310 on volume of 700,000 shares.
The worst-performed sector today was XEJ Energy which lost 0.53% to 9780.40 points. The sector was dragged lower by
- Roc Oil Company (ROC), -$0.110 (4.37%) to $2.410 on volume of 379,000 shares;
- Tap Oil (TAP), -$0.090 (3.7%) to $2.340 on volume of 2.11m shares;
- Arc Energy (ARQ), -$0.055 (2.92%) to $1.830 on volume of 525,000 shares;
- Oil Search (OSH), -$0.080 (2.42%) to $3.220 on volume of 5.33m shares; and
- Australian Worldwide Exploration (AWE), -$0.045 (2.21%) to $1.995 on volume of 977,000 shares.
Just in front of last place on the sector table was XSJ Consumer Staples which lost 0.26% to 5818.90 points. The sector was pulled down by
- Coca-Cola Amatil (CCL), -$0.130 (1.71%) to $7.490 on volume of 1.72m shares;
- AWB (AWB), -$0.060 (1.12%) to $5.320 on volume of 636,000 shares;
- Foodland Associated (FOA), -$0.210 (0.76%) to $27.250 on volume of 108,000 shares;
- Ridley Corporation (RIC), -$0.010 (0.72%) to $1.375 on volume of 128,000 shares; and
- Coles Myer Ltd (CML), -$0.050 (0.5%) to $9.980 on volume of 987,000 shares.
Sector Indices
| Code | GICS Sector | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XHJ | Healthcare | 5873.2 | 55.6 | 0.96% | 6.45m |
| XMJ | Materials | 8299.5 | 69.3 | 0.84% | 56.82m |
| XPJ | Property Trusts | 1816.6 | 8.5 | 0.47% | 50.79m |
| XIJ | Information Technology | 434.4 | 1.6 | 0.37% | 3.41m |
| XFJ | Financials | 5319.4 | 18 | 0.34% | 90.49m |
| XXJ | ASX200 Financials ex Property Trusts | 5486.1 | 16.7 | 0.31% | 41.71m |
| XNJ | Industrials | 4997.2 | 15.1 | 0.3% | 35.89m |
| XTJ | Telecommunications | 1538.5 | 3.1 | 0.2% | 13.26m |
| XUJ | Utilities | 5294.8 | 3.6 | 0.07% | 3.57m |
| XDJ | Consumer Discretionary | 2213.9 | -5.6 | -0.25% | 12.57m |
| XSJ | Consumer Staples | 5818.9 | -15.1 | -0.26% | 22.18m |
| XEJ | Energy | 9780.4 | -52.2 | -0.53% | 15.4m |
All Ordinaries Major Movers
All Ords Volume Leaders
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| MOF | Macquarie Office Trust | 1.26 | 0.01 | 0.4% | 11.88m |
| TLS | Telstra Corporation | 4.23 | 0.02 | 0.48% | 11.83m |
| BHP | BHP Billiton | 20.89 | 0.14 | 0.67% | 8.41m |
| MAP | Macquarie Airports | 3.03 | 0.03 | 1% | 8.04m |
| LHG | Lihir Gold | 1.75 | -0.01 | -0.29% | 7.18m |
| SEN | Senetas Corporation | 0.54 | 0.05 | 10.31% | 6.78m |
All Ords Percentage Gainers
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| MUL | Multiemedia | 0.016 | 0.002 | 14.29% | 5.95m |
| CBH | CBH Resources | 0.22 | 0.03 | 13.16% | 1.6m |
| HWI | Housewares International | 1.6 | 0.08 | 5.26% | 105951 |
| PEP | Peplin | 0.57 | 0.03 | 4.63% | 163051 |
| TIM | Timbercorp | 2.53 | 0.11 | 4.55% | 582704 |
All Ords Percentage Decliners
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| TWR | Tower | 1.73 | -0.3 | -14.78% | 3.58m |
| AZZ | Antares Energy | 0.5 | -0.03 | -5.66% | 550200 |
| PMM | Portman | 4.21 | -0.23 | -5.18% | 57960 |
| PBB | Pacifica Group | 1.79 | -0.1 | -5.05% | 208013 |
| HTA | Hutchison Telecommunications (Australia) | 0.3 | -0.02 | -4.84% | 287550 |
Elsewhere in the Region...
Regional Indices
| Country | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| New Zealand | NZSE50 | 3297.15 | 3.99 | 0.12% | 23.22m |
| Japan | Nikkei 225 | 13867.86 | 261.36 | 1.92% | 0 |
| Korea | KOSPI | 1188.95 | 30.84 | 2.66% | 420378 |
| Singapore | Straits Times | 2216.77 | 0 | 0% | 0 |
| Hong Kong | Hang Seng | 14548.54 | 162.17 | 1.13% | 214.09m |
| Malaysia | KLSE Comp | 910.76 | 4.97 | 0.55% | 0 |
