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Oh me, oh my... Strayan stocks were about as popular as the fabled red headed stepchild; nobody loved them. In fact, they were like a red-headed stepchild with freckles the size of postage stamps.
The interesting thing about the decline, is that the overwhelming bulk of it happened after 2 p.m.; at that time the All Ords was well above 5660, but the late afternoon failure was a sight to behold.
No volume spike though - volume was less than tepid. Thus there has still been no nuffie capitulation yet. So there is still no reason to reverse our short bias; as I've said before, this leg down will finish with a morning plunge on huge early volume - and some of us will be there to pick up some super-cheap leveraged longside exposure.
Don't get me wrong - the coming bounce won't have legs, but it will be hugely profitable for anyone who is prepared to clench their teeth, screw the c. to the s.p., and go against their gut instincts. It will only just be long-lived enough to justify removing all hedges from the Model Portfolios.
Major Market Indices
The broad market - the All Ordinaries (XAO) - dipped reasonably hard, registering a loss of 111.3 points (1.96%), finishing at 5577.3 points. The index hit an intraday high of 5701 at 10:08 am, while the low for the day was 5586.3 - set at 3:53 pm Sydney time.
Total volume traded on the ASX was 1.38 billion units, 4% below its 10-day average (the 10-day average is also falling). The ASX's daily listing of all stocks included 1371 different 3-letter FPO's which traded (i.e., had non-zero trade volume). Of these, 451 issues rose, with volume in rising issues totalling 474.9 million units. The losers numbered 633, with aggregate volume traded of 790.1 million shares.
Of the 478 All Ordinaries components, 147 rose while 265 fell. Volume was tilted in favour of the losers by a margin of 2.7:1, with 207.7 million shares traded in gainers while 570.28 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) - dipped pretty savagely, shedding 122.6 points (2.18%), closing out the session at 5496.5 points.
| Name | Close | +/-(%) |
|---|---|---|
| All Ordinaries | 5577.30 | -111.30 (2.0%) |
| ASX 50 | 5304.30 | -129.90 (2.4%) |
| ASX 200 | 5496.50 | -122.60 (2.2%) |
| ASX 300 | 5504.60 | -119.30 (2.1%) |
| ASX Mid-Cap 50 | 5787.00 | -92.50 (1.6%) |
| ASX Small Ordinaries | 3324.40 | -32.50 (1.0%) |
| ASX 20 | 2999.70 | -77.90 (2.5%) |
| ASX 100 | 4439.10 | -102.70 (2.3%) |
The "heavy hitters" of the Australian market - the ASX 20 Leaders (XTL) - was taken to the woodshed, sliding 77.9 points (2.53%), closing out the session at 2999.7 points.
Among the 20 big guns, 3 index components finished to the upside, and of the rest, 17 closed lower for the session. The 21 stocks which make up the index traded a total of 166.56 million units; 3 index components rose, with rising volume amounting to 11.73 million shares, while the 17 decliners had volume traded totalling 151.95 million units. The major percentage gainers within the index were
- CSL Limited (CSL), +$2.85 (8.99%) to $34.55 on volume of 5.3 million shares;
- Woodside Petroleum Limited (WPL), +$2.33 (4.55%) to $53.59 on volume of 3.3 million shares; and
- Woolworths Limited (WOW), +$0.03 (0.11%) to $27.53 on volume of 3.1 million shares.
On the less salubrious side of the big-cap fence, the following stocks were the worst-performed within the index:
- Macquarie Group Limited (MQG), -$3.39 (5.97%) to $53.35 on volume of 3.6 million shares;
- Brambles Limited (BXB), -$0.57 (5.78%) to $9.30 on volume of 6.4 million shares;
- Wesfarmers Limited (WES), -$1.95 (5.29%) to $34.90 on volume of 3.6 million shares;
- AMP Limited (AMP), -$0.34 (4.24%) to $7.68 on volume of 10.7 million shares; and
- Stockland (SGP), -$0.28 (3.67%) to $7.34 on volume of 4 million shares.
At the other end of the market-cap spectrum lie the denizens of the ASX Small Ordinaries (XSO). The small end of the market , while still dropping overall, did significantly better than its large-cap counterpart. The Small Ords slid modestly, falling 32.5 points (0.97%), closing out the session at 3324.4 points.
Among the stocks that make up the Small Caps index, 62 index components finished to the upside, and of the rest, 117 closed lower for the session.
The 192 stocks which make up the index traded a total of 242.37 million units: volume in the 62 gainers totalling 92.42 million shares, with trade totalling 140.75 million units in the index's 117 declining components. The major percentage gainers within the index were- Rubicon America Trust (RAT), +$0.03 (12%) to $0.28 on volume of 1.1 million shares;
- Macmahon Holdings Limited (MAH), +$0.14 (9.85%) to $1.51 on volume of 3.8 million shares;
- The Reject Shop Limited (TRS), +$0.88 (8.84%) to $10.83 on volume of 72.5 thousand shares;
- Gloucester Coal Limited (GCL), +$0.60 (7.94%) to $8.16 on volume of 806.7 thousand shares; and
- Aditya Birla Minerals limited (ABY), +$0.16 (7.37%) to $2.33 on volume of 4 million shares.
In the red-zone of the little-stock index, the following list represents the biggest downers (in terms of percentage decline):
- Riversdale Mining Limited (RIV), -$0.75 (9.55%) to $7.10 on volume of 3.4 million shares;
- Skilled Group Limited (SKE), -$0.43 (9.27%) to $4.21 on volume of 2.3 million shares;
- APN/UKA European Retail Property Group (AEZ), -$0.07 (8.97%) to $0.71 on volume of 407.8 thousand shares;
- AED Oil Limited (AED), -$0.16 (8.6%) to $1.70 on volume of 3.3 million shares; and
- Commander Communications Limited (CDR), -$0.02 (8.11%) to $0.17 on volume of 850.4 thousand shares.
Index Changes
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XAO | All Ordinaries | 5577.3 | -111.3 | -1.96 | 820.1m |
| XFL | ASX 50 | 5304.3 | -129.9 | -2.39 | 324.4m |
| XJO | ASX 200 | 5496.5 | -122.6 | -2.18 | 672.3m |
| XKO | ASX 300 | 5504.6 | -119.3 | -2.12 | 755.2m |
| XMD | ASX Mid-Cap 50 | 5787 | -92.5 | -1.57 | 188.4m |
| XSO | ASX Small Ordinaries | 3324.4 | -32.5 | -0.97 | 242.4m |
| XTL | ASX 20 | 2999.7 | -77.9 | -2.53 | 166.6m |
| XTO | ASX 100 | 4439.1 | -102.7 | -2.26 | 512.8m |
Market Breadth
| ASX20 | XTO | XJO | XAO | XSO | Market | |
|---|---|---|---|---|---|---|
| Advances | 3 | 17 | 18 | 147 | 62 | 451 |
| Declines | 17 | 80 | 80 | 264 | 117 | 633 |
| Advancing Volume | 11.7m | 94.1m | 95.2m | 207.7m | 92.4m | 474.9 million |
| Declining Volume | 152m | 404.7m | 404.7m | 564.4m | 140.8m | 790.1 million |
GICS Industry Indices
Among the 11 industry indices, 3 registered an advance for the session, the remaining 8 lost ground.
The best performing index was Healthcare (XHJ), which added 286.5 points (3.37%) to 8785.3 points. The 9 stocks which make up the index traded a total of 13.15 million units; The lone rising index component had volume amounting to 5.27 million shares, while the 8 decliners had volume traded totalling 7.88 million units. The major percentage gainers within the index were
- CSL Limited (CSL), +$2.85 (8.99%) to $34.55 on volume of 5.3 million shares.
Second in the index leadership stakes was Information Technology (XIJ), which gained 6.1 points (1.25%) to 494.6 points. The 2 stocks which make up the index traded a total of 2.38 million units; The lone rising index component had volume amounting to 1.89 million shares, while sole declining stock traded 0.48 million units. The major percentage gainers within the index were
- Computershare Limited (CPU), +$0.17 (2.01%) to $8.63 on volume of 1.9 million shares.
The bronze medal for today goes to Energy (XEJ), which climbed 133.1 points (0.91%) to 14834.7 points. The 18 stocks which make up the index traded a total of 44.35 million units; 7 index components rose, with rising volume amounting to 22.3 million shares, while the 10 decliners had volume traded totalling 18.49 million units. The major percentage gainers within the index were
- Woodside Petroleum Limited (WPL), +$2.33 (4.55%) to $53.59 on volume of 3.3 million shares;
- Santos Limited (STO), +$0.39 (2.8%) to $14.31 on volume of 2.9 million shares;
- Centennial Coal Company Limited (CEY), +$0.06 (1.41%) to $4.32 on volume of 3.4 million shares;
- Oil Search Limited (OSH), +$0.05 (1.14%) to $4.43 on volume of 9.1 million shares; and
- Arrow Energy NL (AOE), +$0.02 (0.88%) to $2.30 on volume of 1.6 million shares.
The worst-performed index for the session was Property Trusts (XPJ), which dipped 63.6 points (3.43%) to 1790.3 points. The 20 stocks which make up the index traded a total of 137.21 million units; The 18 decliners had volume traded totalling 127.3 million units, and 2 index components rose, with rising volume amounting to 9.92 million shares, The major percentage decliners within the index were
- APN/UKA European Retail Property Group (AEZ), -$0.07 (8.97%) to $0.71 on volume of 407.8 thousand shares;
- Macquarie Office Trust (MOF), -$0.07 (5.44%) to $1.13 on volume of 12.8 million shares;
- Centro Properties Group (CNP), -$0.03 (4.81%) to $0.50 on volume of 25.2 million shares;
- Macquarie DDR Trust (MDT), -$0.03 (4.51%) to $0.64 on volume of 3.6 million shares; and
- DB RREEF Trust (DRT), -$0.08 (4.26%) to $1.69 on volume of 11.5 million shares.
Just missing out on the wooden spoon was ASX200 Financials ex Property Trusts (XXJ), which slid 180 points (3.16%) to 5518.7 points. The 28 stocks which make up the index traded a total of 85.35 million units; The 24 decliners had volume traded totalling 81.72 million units, and 2 index components rose, with rising volume amounting to 0.61 million shares, The major percentage decliners within the index were
- Macquarie Group Limited (MQG), -$3.39 (5.97%) to $53.35 on volume of 3.6 million shares;
- Sunland Group Limited (SDG), -$0.16 (4.55%) to $3.36 on volume of 719.2 thousand shares;
- Lend Lease Corporation Limited (LLC), -$0.6 (4.33%) to $13.25 on volume of 1.6 million shares;
- AMP Limited (AMP), -$0.34 (4.24%) to $7.68 on volume of 10.7 million shares; and
- Challenger Financial Services Group Limited (CGF), -$0.1 (3.7%) to $2.60 on volume of 1.7 million shares.
Third-to-last amongst the sector indices was Consumer Staples (XSJ), which slid 238.6 points (3.06%) to 7550.5 points. The 10 stocks which make up the index traded a total of 27.9 million units; The 7 decliners had volume traded totalling 23.48 million units, and 3 index components rose, with rising volume amounting to 4.42 million shares, The major percentage decliners within the index were
- Wesfarmers Limited (WES), -$1.95 (5.29%) to $34.90 on volume of 3.6 million shares;
- Futuris Corporation Limited (FCL), -$0.07 (3.41%) to $1.98 on volume of 4.3 million shares;
- Coca-Cola Amatil Limited (CCL), -$0.26 (2.61%) to $9.69 on volume of 2.5 million shares;
- Metcash Limited (MTS), -$0.1 (2.45%) to $3.98 on volume of 2.2 million shares; and
- Foster's Group Limited (FGL), -$0.13 (2.25%) to $5.64 on volume of 8.1 million shares.
Sector Indices
| Code | GICS Sector | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XHJ | Healthcare | 8785.3 | 286.5 | 3.37 | 13m |
| XIJ | Information Technology | 494.6 | 6.1 | 1.25 | 2m |
| XEJ | Energy | 14834.7 | 133.1 | 0.91 | 44m |
| XMJ | Materials | 14743.6 | -255.1 | -1.7 | 162m |
| XTJ | Telecommunications | 1654.2 | -31.9 | -1.89 | 67m |
| XDJ | Consumer Discretionary | 2279.7 | -58.1 | -2.49 | 39m |
| XNJ | Industrials | 5461.4 | -146.6 | -2.61 | 73m |
| XUJ | Utilities | 5869.8 | -161 | -2.67 | 22m |
| XSJ | Consumer Staples | 7550.5 | -238.6 | -3.06 | 28m |
| XXJ | ASX200 Financials ex Property Trusts | 5518.7 | -180 | -3.16 | 85m |
| XPJ | Property Trusts | 1790.3 | -63.6 | -3.43 | 137m |
All Ordinaries Major Movers
All Ords Volume Leaders
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| TLS | Telstra Corporation Limited. | 4.71 | -0.06 | -1.26 | 31.6m |
| CNP | Centro Properties Group | 0.50 | -0.03 | -4.81 | 25.2m |
| TLSCA | Telstra (Installment Receipts) | 3.13 | -0.07 | -2.19 | 22.8m |
| OXR | Oxiana Limited | 3.43 | 0.06 | 1.78 | 20.3m |
| CRT | Consolidated Rutile Limited | 0.50 | 0.00 | 0 | 18.1m |
All Ords Percentage Gainers
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| EWC | Energy World Corporation Ltd | 1.22 | 0.14 | 12.96 | 6.5m |
| RAT | Rubicon America Trust | 0.28 | 0.03 | 12 | 1.1m |
| KAR | Karoon Gas Australia Limited | 2.35 | 0.24 | 11.37 | 226.1k |
| PFG | Prime Financial Group Limited | 0.50 | 0.05 | 11.11 | 203.7k |
| MAH | Macmahon Holdings Limited | 1.51 | 0.14 | 9.85 | 3.8m |
All Ords Percentage Losers
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| PBD | Port Bouvard Limited | 1.24 | -0.16 | -11.43 | 161.6k |
| VBA | Virgin Blue Holdings Limited | 1.33 | -0.15 | -10.14 | 2.3m |
| RIV | Riversdale Mining Limited | 7.10 | -0.75 | -9.55 | 3.4m |
| SKE | Skilled Group Limited | 4.21 | -0.43 | -9.27 | 2.3m |
| CPK | CP1 Limited | 0.40 | -0.04 | -9.09 | 95k |
