Interdum stultus opportuna loquitur...

Thursday, December 01, 2005

OzRant: Early Tease Bounce Prevents A Short Century...

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

How annoying. I mentioned this morning (in "Small Lot Frustration, Big Lot Jubilation") that the market was likely to pop up early - far enough to trigger the trailing stop mentioned (at 4617), thus putting an end to the final tranche of yesterday's fun SPISpy ride downwards, and crediting the RantRecord with a nice (5,8,20,60).

It's not aonnoying that the trade was closed; what was annoying was that the market went up to the stop, triggered it, and then only went up a further 7 SPI points - the day topped out at 4624, then fell as low as 4574 without giving a single valid re-entry.

Oh well, too bad. The stop was a little too tight. Still, it would have been real nice to be able to take everything off at 4577 - that would have been a neat 100-point gain in just over a session.

Major Market Indices

The broad market - the ASX All Ordinaries (XAO) - fell by 51.30 points (-1.12%), finishing at 4532.30 points. The index hit an intraday high of 4583.60 at the open, and its low of 4529.9 was set jsut after 2:15 p.m. Sydney time - after which it went pretty much sideways for the rest of the day.

Total volume traded on the ASX was a solid 1.46 billion units, 28.8% above its 10-day average. Of the 487 stocks in the index, 225 fell while 63 managed a gain. Volume was tilted in favour of the losers by a margin of a staggering 13.8:1, with 828.06 million shares traded in losers compared to just 60.01 million shares traded in the day's gainers.

The Index that forms the cash basis for the SFE's Share Price Index Futures - the S&P/ASX 200 (XJO) - fell by 54.70 points (-1.18%), finishing at 4580.10 points.

The "heavy hitters" of the Australian market - the ASX 20 Leaders (XTL) - fell by 31.50 points (-1.27%), finishing at 2454.00 points. Within the index members, there were just 3 that rose, and 17 losers. Total volume in rising issues within the ASX20 amounted to a paltry 10.15m shares, while volume in the losers totalled 109.53m units.

The only winners in the "big guns" were -

  • Rinker Group (RIN), +$0.210 (1.34%) to $15.890 on volume of 3.01m shares;
  • Wesfarmers (WES), +$0.210 (0.59%) to $35.750 on volume of 928,000 shares and 
  • Woolworths (WOW), +$0.020 (0.12%) to $17.030 on volume of 6.2m shares.

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

  • Rio Tinto (RIO), -$1.360 (2.2%) to $60.400 on volume of 2.35m shares;
  • Westpac Banking Corporation (WBC), -$0.44 (1.96%) to $22.00 on volume of 5.51m shares;
  • National Australia Bank (NAB), -$0.62 (1.91%) to $31.84 on volume of 4.51m shares;
  • Foster's Group (FGL), -$0.10 (1.77%) to $5.55 on volume of 7.62m shares;
  • BHP Billiton (BHP), -$0.37 (1.69%) to $21.50 on volume of 14.32m shares.

At the smaller end of the market's capitalisation scale, the ASX Small Ordinaries Index (XSO) fell by 37.60 points (-1.44%), finishing at 2575.90 points. The major winners in the "pop-guns" were -

  • Metabolic Pharmaceuticals (MBP), +$0.035 (7.22%) to $0.520 on volume of 1.21m shares;
  • Sai Global (SAI), +$0.100 (3.7%) to $2.800 on volume of 34,000 shares; and
  • Progen Industries (PGL), +$0.080 (2.91%) to $2.830 on volume of 21,000 shares; and
  • Mosaic Oil (MOS), +$0.005 (2.78%) to $0.185 on volume of 244,000 shares; and
  • Rebel Sport (REB), +$0.070 (2.61%) to $2.750 on volume of 37,000 shares.

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

  • Perseverance Corporation (PSV), -$0.025 (7.35%) to $0.315 on volume of 3.14m shares;
  • Emperor Mines (EMP), -$0.030 (6.67%) to $0.420 on volume of 139,000 shares; and
  • Volante Group (VGL), -$0.050 (6.13%) to $0.765 on volume of 981,000 shares; and
  • Consolidated Minerals (CSM), -$0.180 (6%) to $2.820 on volume of 1.86m shares; and
  • Ridley Corporation (RIC), -$0.085 (5.9%) to $1.355 on volume of 112,000 shares.
Index Changes
XAOAll Ordinaries4532.3-51.3-1.12%1003.77m
XTLS&P/ASX 202454-31.5-1.27%0
XFLS&P/ASX 504478.2-51.8-1.14%235.38m
XTOS&P/ASX 1003718.2-43.3-1.15%790.63m
XJOS&P/ASX 2004580.1-54.7-1.18%876.18m
XKOS&P/ASX 3004572.7-54.5-1.18%0
XMDS&P/ASX Mid-Cap 504633.4-56-1.19%0
XSOS&P/ASX Small Ordinaries2575.9-37.6-1.44%167.24m

All Ordinaries Market Internals

Market Breadth
Advancing Volume10.15m29.44m39.09m60.0119.7154.19
Declining Volume109.53m724.06m784.57m828.0687.341073.1

S&P/ASX200 GICS Sector Indices

There was no sector that rose for the day; not a single one.

The worst-performed sector today was XXJ ASX200 Financials ex Property Trusts which lost 1.57% to 5599.50 points. The sector was dragged lower by
  • Challenger Financial Services Group (CGF), -$0.150 (3.8%) to $3.800 on volume of 2.61m shares;
  • Axa Asia Pacific Holdings (AXA), -$0.180 (3.54%) to $4.900 on volume of 5.22m shares;
  • Oamps (OMP), -$0.110 (3.41%) to $3.120 on volume of 382,000 shares;
  • Bank Of Queensland (BOQ), -$0.410 (2.77%) to $14.390 on volume of 480,000 shares; and
  • Record Investments (RCD), -$0.230 (2.66%) to $8.420 on volume of 1.85m shares.

Just in front of last place on the sector table was XIJ Information Technology which lost 1.49% to 444.20 points. The sector was pulled down by

  • Vision Systems (VSL), -$0.060 (3.34%) to $1.735 on volume of 468,000 shares;
  • Computershare (CPU), -$0.110 (1.57%) to $6.890 on volume of 656,000 shares;
  • Baycorp Advantage (BCA), -$0.040 (1.2%) to $3.300 on volume of 406,000 shares;
  • IRESS Market Technology (IRE), -$0.040 (0.93%) to $4.260 on volume of 89,000 shares; and
  • ERG (ERG), -$0.000 (0%) to $0.125 on volume of 1.97m shares.
Sector Indices
CodeGICS SectorClose+/-%Volume
XDJConsumer Discretionary2226.1-13.4-0.6%28.01m
XPJProperty Trusts1851.6-14.2-0.76%49.05m
XSJConsumer Staples5876.3-51.6-0.87%29.18m
XIJInformation Technology444.2-6.7-1.49%6.14m
XXJASX200 Financials ex Property Trusts5599.5-89.1-1.57%57.23m

All Ordinaries Major Movers

All Ords Volume Leaders
LHGLihir Gold2.08-0.27-11.49%456.8m
TLSTelstra Corporation3.84-0.01-0.26%41.58m
BILBrambles Industries9.65-0.04-0.41%21.58m
LYCLynas Corporation0.1500%20.79m
MTSMetcash Trading4.5-0.03-0.66%15.04m
BHPBHP Billiton21.5-0.37-1.69%14.32m
All Ords Percentage Gainers
MBPMetabolic Pharmaceuticals0.520.047.22%1.21m
MFIMariner Financial1.170.076.36%503000
CHQChiquita Brands South Pacific0.710.045.97%133620
ERAEnergy Resources Of Australia140.785.9%7910
JHXJames Hardie Industries N.V.8.90.495.83%3.32m
All Ords Percentage Decliners
PBDPort Bouvard1.9-0.35-15.56%92075
PSVPerseverance Corporation0.32-0.03-7.35%3.14m
EMPEmperor Mines0.42-0.03-6.67%139100
VGLVolante Group0.77-0.05-6.13%981284
CSMConsolidated Minerals2.82-0.18-6%1.86m

Elsewhere in the Region...

Regional Indices
New ZealandNZSE503292.249-25.52-0.77%53.92m
JapanNikkei 22515061.76189.611.27%0
SingaporeStraits Times2303.242.990.13%0
Hong KongHang Seng14925.31-11.83-0.08%115.71m
MalaysiaKLSE Comp889.54-6.59-0.74%0