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Boy, this market is getting tough; today's SPISpy managed (yet gain) to do the business for one-lotters, but anybody trading 2 got stopped for pretty much no gain.
The relevant sections of the SPISpy mail (sent at 11:35 a.m. Sydney time:
Short SPI as soon as you get this - targets: 8 points for the first contract, then (for those trading more than 1) place a stop behind our entry and trail it for the second.
The result: one-lotters got their 8 points ($200 per contract, which is 3% or thereabouts of the intraday contract margin ), and 2-lotters took 8 on one contract and almost certainly lost money on the second. But it took an hour; not what I like to see.
With the US markets now having closed above 1360 for two consecutive sessions, we find ourselves now forced to a buying bias for intraday trades - however today's short was buttressed by a bunch of things. Pity (for the two-lot traders) that it didn't develop a bit better.
Major Market Indices
The broad market - the All Ordinaries (XAO) - rose strongly, registering a gain of 96.7 points (1.68%), finishing at 5842.5 points. The index hit an intraday high of 5845.8 at 3:44 pm, while the low for the day was 5762.3 - set at 10:01 am Sydney time (again, a vestige of the prior close).
Total volume traded on the ASX was 1.4 billion units, just about on a par with its 10-day average. The ASX's daily listing of all stocks included 1398 different 3-letter FPO's which traded (i.e., had non-zero trade volume). Of these, 645 issues rose, with volume in rising issues totalling 818.4 million units. 491 stocks fell, and traded contributed 444.6 million shares to aggregate volume.
Of the 475 All Ordinaries components, 264 rose while 152 fell. Volume was tilted in favour of the gainers by a margin of 1.9:1, with 578.97 million shares traded in gainers while 298.09 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) - managed a solid gain, adding 101.1 points (1.78%), closing out the session at 5767.2 points.
| Name | Close | +/-(%) |
|---|---|---|
| All Ordinaries | 5842.50 | 96.70 (1.7%) |
| ASX 50 | 5577.40 | 105.30 (1.9%) |
| ASX 200 | 5767.20 | 101.10 (1.8%) |
| ASX 300 | 5770.90 | 98.80 (1.7%) |
| ASX Mid-Cap 50 | 6045.10 | 82.80 (1.4%) |
| ASX Small Ordinaries | 3430.70 | 31.60 (0.9%) |
| ASX 20 | 3171.30 | 55.90 (1.8%) |
| ASX 100 | 4662.90 | 84.30 (1.8%) |
The "heavy hitters" of the Australian market - the ASX 20 Leaders (XTL) - performed solidly, in moving up 55.9 points (1.79%), closing out the session at 3171.3 points.
Among the 20 big guns, 18 index components finished to the upside, and of the rest, 3 closed lower for the session. The 21 stocks which make up the index traded a total of 153.94 million units; 18 index components rose, with rising volume amounting to 129.32 million shares, while the 3 decliners had volume traded totalling 24.62 million units. The major percentage gainers within the index were
- National Australia Bank Limited (NAB), +$1.14 (3.79%) to $31.25 on volume of 6.5 million shares;
- AMP Limited (AMP), +$0.30 (3.75%) to $8.30 on volume of 5.2 million shares;
- Brambles Limited (BXB), +$0.30 (2.94%) to $10.50 on volume of 4.5 million shares;
- Australia And New Zealand Banking Group Limited (ANZ), +$0.62 (2.71%) to $23.49 on volume of 7.7 million shares; and
- BHP Billiton Limited (BHP), +$1.04 (2.68%) to $39.79 on volume of 11.7 million shares.
On the less salubrious side of the big-cap fence, the following stocks were the worst-performed within the index:
- QBE Insurance Group Limited (QBE), -$1.18 (4.58%) to $24.57 on volume of 16.5 million shares;
- Wesfarmers Limited (WES), -$0.6 (1.46%) to $40.45 on volume of 3.6 million shares; and
- Woolworths Limited (WOW), -$0.23 (0.76%) to $30.00 on volume of 4.6 million shares.
At the other end of the market-cap spectrum lie the denizens of the ASX Small Ordinaries (XSO) - the place where non-mania excess returns lie. The small end of the market significantly underperformed its large-cap counterpart. The Small Ords advanced by under a percent, adding 31.6 points (0.93%), closing out the session at 3430.7 points.
Among the stocks that make up the Small Caps index, 102 index components finished to the upside, and of the rest, 70 closed lower for the session.
The 190 stocks which make up the index traded a total of 216.64 million units: volume in the 102 gainers totalling 118.48 million shares, with trade totalling 76.45 million units in the index's 70 declining components. The major percentage gainers within the index were- Timbercorp Limited (TIM), +$0.20 (17.24%) to $1.36 on volume of 2.5 million shares;
- Jabiru Metals Limited (JML), +$0.13 (16.67%) to $0.91 on volume of 2.8 million shares;
- Commander Communications Limited (CDR), +$0.02 (10.34%) to $0.16 on volume of 2.1 million shares;
- ABB Grain Limited (ABB), +$0.64 (7.98%) to $8.66 on volume of 701.2 thousand shares; and
- Gunns Limited (GNS), +$0.22 (6.75%) to $3.48 on volume of 2.9 million shares.
In the red-zone of the little-stock index, the following list represents the biggest downers (in terms of percentage decline):
- Flexigroup Limited (FXL), -$0.16 (16.58%) to $0.78 on volume of 1.2 million shares;
- AED Oil Limited (AED), -$0.21 (10.24%) to $1.84 on volume of 2.7 million shares;
- Energy Developments Limited (ENE), -$0.28 (8.97%) to $2.84 on volume of 760.5 thousand shares;
- Riversdale Mining Limited (RIV), -$0.64 (8.01%) to $7.35 on volume of 878.6 thousand shares; and
- IBA Health Limited (IBA), -$0.05 (7.81%) to $0.59 on volume of 7.9 million shares.
Index Changes
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XAO | All Ordinaries | 5842.5 | 96.7 | 1.68 | 931.7m |
| XFL | ASX 50 | 5577.4 | 105.3 | 1.92 | 302.1m |
| XJO | ASX 200 | 5767.2 | 101.1 | 1.78 | 671.9m |
| XKO | ASX 300 | 5770.9 | 98.8 | 1.74 | 749.7m |
| XMD | ASX Mid-Cap 50 | 6045.1 | 82.8 | 1.39 | 230.9m |
| XSO | ASX Small Ordinaries | 3430.7 | 31.6 | 0.93 | 216.7m |
| XTL | ASX 20 | 3171.3 | 55.9 | 1.79 | 153.9m |
| XTO | ASX 100 | 4662.9 | 84.3 | 1.84 | 533m |
Market Breadth
| ASX20 | XTO | XJO | XAO | XSO | Market | |
|---|---|---|---|---|---|---|
| Advances | 18 | 78 | 134 | 264 | 102 | 645 |
| Declines | 3 | 18 | 50 | 151 | 70 | 491 |
| Advancing Volume | 129.3m | 422.8m | 510.8m | 579m | 118.5m | 818.4m |
| Declining Volume | 24.6m | 83.1m | 124.7m | 298.1m | 76.5m | 444.6m |
GICS Industry Indices
Among the 11 industry indices, things were relatively upbeat: every sector bar one managed to keep its head above water.
The best performing index was Materials (XMJ), which added 370 points (2.47%) to 15367.4 points. The 42 stocks which make up the index traded a total of 142.71 million units; 32 index components rose, with rising volume amounting to 105.25 million shares, while the 8 decliners had volume traded totalling 36.35 million units. The major percentage gainers within the index were
- Timbercorp Limited (TIM), +$0.20 (17.24%) to $1.36 on volume of 2.5 million shares;
- Gunns Limited (GNS), +$0.22 (6.75%) to $3.48 on volume of 2.9 million shares;
- Lynas Corporation Limited (LYC), +$0.09 (6.67%) to $1.36 on volume of 3 million shares;
- Kagara Zinc Limited (KZL), +$0.32 (6.4%) to $5.32 on volume of 834.1 thousand shares; and
- Newcrest Mining Limited (NCM), +$2.27 (6.38%) to $37.84 on volume of 2.2 million shares.
Second in the index leadership stakes was Healthcare (XHJ), which gained 202 points (2.18%) to 9450.5 points. The 9 stocks which make up the index traded a total of 10.25 million units; 7 index components rose, with rising volume amounting to 8.52 million shares, while the 2 decliners had volume traded totalling 1.74 million units. The major percentage gainers within the index were
- Ansell Limited (ANN), +$0.34 (2.72%) to $12.83 on volume of 726.4 thousand shares;
- CSL Limited (CSL), +$1.01 (2.67%) to $38.80 on volume of 1.9 million shares;
- Sonic Healthcare Limited (SHL), +$0.38 (2.65%) to $14.70 on volume of 858.2 thousand shares;
- Healthscope Limited (HSP), +$0.07 (1.4%) to $5.06 on volume of 1.4 million shares; and
- ResMed Inc. (RMD), +$0.05 (1.12%) to $4.52 on volume of 2 million shares.
The bronze medal for today goes to Energy (XEJ), which climbed 307.9 points (2.06%) to 15241.3 points. The 17 stocks which make up the index traded a total of 41.06 million units; 10 index components rose, with rising volume amounting to 26.49 million shares, while the 6 decliners had volume traded totalling 12.56 million units. The major percentage gainers within the index were
- Santos Limited (STO), +$0.79 (6.69%) to $12.60 on volume of 5.7 million shares;
- Australian Worldwide Exploration Limited (AWE), +$0.12 (3.42%) to $3.63 on volume of 2.6 million shares;
- Nexus Energy Limited (NXS), +$0.06 (3.24%) to $1.75 on volume of 1.6 million shares;
- Oil Search Limited (OSH), +$0.13 (2.94%) to $4.55 on volume of 6.1 million shares; and
- Woodside Petroleum Limited (WPL), +$1.33 (2.38%) to $57.28 on volume of 2.4 million shares.
The only declining index for the session was Consumer Staples (XSJ), which dipped 27.7 points (0.33%) to 8254.5 points. The 10 stocks which make up the index traded a total of 28.98 million units; The 3 decliners had volume traded totalling 9.54 million units, and 7 index components rose, with rising volume amounting to 19.44 million shares, The major percentage decliners within the index were
- Wesfarmers Limited (WES), -$0.6 (1.46%) to $40.45 on volume of 3.6 million shares;
- Woolworths Limited (WOW), -$0.23 (0.76%) to $30.00 on volume of 4.6 million shares; and
- Coca-Cola Amatil Limited (CCL), -$0.03 (0.3%) to $9.88 on volume of 1.4 million shares.
Sector Indices
| Code | GICS Sector | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XMJ | Materials | 15367.4 | 370 | 2.47 | 143m |
| XHJ | Healthcare | 9450.5 | 202 | 2.18 | 10m |
| XEJ | Energy | 15241.3 | 307.9 | 2.06 | 41m |
| XXJ | ASX200 Financials ex Property Trusts | 5861.6 | 116.6 | 2.03 | 138m |
| XNJ | Industrials | 5810.4 | 111.6 | 1.96 | 76m |
| XPJ | Property Trusts | 1769.2 | 31.6 | 1.82 | 99m |
| XIJ | Information Technology | 526.4 | 5.3 | 1.02 | 2m |
| XDJ | Consumer Discretionary | 2375.5 | 19 | 0.81 | 51m |
| XTJ | Telecommunications | 1739.4 | 12.6 | 0.73 | 57m |
| XUJ | Utilities | 5841 | 32.8 | 0.56 | 26m |
| XSJ | Consumer Staples | 8254.5 | -27.7 | -0.33 | 29m |
All Ordinaries Major Movers
All Ords Volume Leaders
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| CLO | Clough Limited | 0.71 | -0.01 | -0.7 | 120.2m |
| AFG | Allco Finance Group Limited | 1.05 | 0.11 | 11.17 | 53.6m |
| TLS | Telstra Corporation Limited. | 4.93 | 0.03 | 0.61 | 31.6m |
| LGL | Lihir Gold Limited | 4.00 | 0.21 | 5.54 | 19.2m |
| TLSCA | Telstra (Installment Receipts) | 3.36 | 0.04 | 1.2 | 16.6m |
All Ords Percentage Gainers
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| BGD | Boulder Steel Limited | 0.18 | 0.03 | 20.69 | 38k |
| AIM | Aim Resources Limited | 0.13 | 0.02 | 18.18 | 12.4m |
| TIM | Timbercorp Limited | 1.36 | 0.20 | 17.24 | 2.5m |
| JML | Jabiru Metals Limited | 0.91 | 0.13 | 16.67 | 2.8m |
| GNC | Graincorp Limited | 12.85 | 1.72 | 15.45 | 317.4k |
All Ords Percentage Losers
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| FXL | Flexigroup Limited | 0.78 | -0.16 | -16.58 | 1.2m |
| TGR | Tassal Group Limited | 2.75 | -0.49 | -15.12 | 1.3m |
| AED | AED Oil Limited | 1.84 | -0.21 | -10.24 | 2.7m |
| NFL | Natural Fuel Limited | 0.18 | -0.02 | -10 | 722.6k |
| ENE | Energy Developments Limited | 2.84 | -0.28 | -8.97 | 760.5k |
