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Well, what to make of the Dow's 500-point upward thrust in the second half of the day? Obviously it was Mr Hankie the Cancer Fairy and his cronies in the Wall Street Bailout Crew, but nobody cares who gave the markets a goosing - just that the goosing was performed.
It is a mark of how bovine the average schlub has become, that the media reports massive injections of 'liquidity' as if it was the Second Coming. Central banks have magicked about two trillion dollars out of thin air in recent weeks, and nobody bats an eyelid.
All those folks wearing red stars on their caps, who got persecuted by Western political machines between the 1950s and the 1990s, ought to be receiving compensation right now. They got suckered into some other political idiot's plan to Save Us All by centralising the means of production, and they were persecuted for trying to encourage others to try it. And of course let's not forget, the US slaughtered 6 million Vietnamese and a further couple of million Laotians and Cambodians because the US specifically declared that public ownership of the means of production was simply not on ... anywhere that could be reached by a strategic bomber.
And now the US and the rest of the West have now handed over their entire financial systems to politically appointed apparatchiki. The control over the means of financing the machinery of production, now rests with a soi-disant 'elite' group of ... central planners. The least they can do is put up a statue of Lenin in Washington, and write a letter of apology to those they persecuted for nothing more than an idea. And we should all get a refund for the debt accumulated to prosecute the Cold War... the ultimate political pissing contest.
This is how Empires end - with rampant corruption, debasement of the coin, and mismanagement of unnecessary foreign entanglements.
No matter - and do not think for a minute that the worst is over. Sure, we made plenty money scalping the Dow yesterday from the long side (although it was annoying having to withstand a further fall after initiating the position), and mark my words, the latecomer euro-short and oil-short nuffnuffs are going to get absolutely smeared in coming days. The Euro in particular - it has fallen about 10c against the USD in the last week and a bit - despite the fact that the US economy is in a much bigger shambles than Europe.
Europe is infested with parasites to a greater degree than the US, perhaps - although if you take the view that national governments in Europe are now like US State governments, it could easily be argued that the additional layer of bullshit artists and parasites in Brussels adds enough politicians to replicate the US Federal government.
And isn't it funny to watch these charlatans trying to pretend that they have the capability to solve this 'crisis'. These vermin who cannot earn a wage in the private sector without either nepotism or 'contacts', and whose entire livelihood depends on legalised extortion of the wages of the polity. Sure, those are the guys who are going to save the financial sector.
Politics attracts the skeeviest, most corruptible, most oily scumbags that walk the earth. They are uniformly either megalomaniacs, or wild eyed crazies who think they know what's good for everybody and would live the chance to use a police force and an army to make everybody act in some fashion deemed acceptable by the political class. Meanwhile they're screwing their secretaries, raping the Treasury, and killing other people's children by the tens of thousands.
It is past time for a bloodbath, with politicians as the victims. They are not like us - they are a metastasized cancer at the heart of human society. They collectively were responsible for a quarter of a billion deaths in the last century and unless we get rid of them they will do for us all.
s you know, I'm a big fan of the Brick Top method of dealing with foes - top them, and feed them to pigs. A very clever man once said that if pigs cold vote, the man who comes each day with the slops bucket would be elected leader. I would like to think that pigs aren't as stupid and Pavlovian as people who believe in democracy - the system that legitimises the rape of the entire country in order to fund the wild schemes of the majority of people who vote.
Major Market Indices
The broad market - the All Ordinaries (XAO) - rose strongly, registering a gain of 53.2 points (1.17%), finishing at 4597.9 points. The index hit an intraday high of 4625.5 at 2:41 pm, a little over 225 points above low for the day of 4398. That's the lowest intra-session low since November 2nd 2005.
Total volume traded on the ASX was 1.38bn units, 6.4% above its 10-day average. The ASX's daily listing of all stocks included 1248 different 3-letter FPO's which traded (i.e., had non-zero trade volume). Of these, 304 issues rose, with volume in rising issues totalling 589.5m units; decliners numbered 738 counters, and between them they traded aggregate declining volume of 692.9m shares.
Of the 496 All Ordinaries components, 154 rose while 283 fell. Volume was tilted in favour of the gainers by a margin of 1.1:1, with 495.77m shares traded in gainers while 469.49m 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 78.3 points (1.72%), closing out the session at 4618.7 points.
| Name | Close | +/-(%) |
|---|---|---|
| All Ordinaries | 4597.90 | 53.20 (1.2%) |
| ASX 20 | 2714.60 | 61.90 (2.3%) |
| ASX 50 | 4601.50 | 92.10 (2.0%) |
| ASX 100 | 3782.50 | 67.90 (1.8%) |
| ASX 200 | 4618.70 | 78.30 (1.7%) |
| ASX 300 | 4600.40 | 73.60 (1.6%) |
| ASX Mid-Cap 50 | 4414.50 | 15.50 (0.4%) |
| ASX Small Ordinaries | 2315.60 | -9.20 (0.4%) |
The "heavy hitters" of the Australian market - the ASX 20 Leaders (XTL) - had a bit of a moonshot, stacking on 61.9 points (2.33%), closing out the session at 2714.6 points.
Among the 20 big guns, 16 index components finished to the upside, and of the rest, 5 closed lower for the session. The 21 stocks which make up the index traded a total of 171.01m units; 16 index components rose, with rising volume amounting to 145.18m shares, while the 5 decliners had volume traded totalling 25.83m units. The major percentage gainers within the index were
- Stockland (SGP), +$0.40 (7.55%) to $5.70 on volume of 5 million shares;
- BHP Billiton (BHP), +$1.91 (6.41%) to $31.70 on volume of 24.4 million shares;
- AMP (AMP), +$0.29 (4.32%) to $7.01 on volume of 6.2 million shares;
- Rio Tinto (RIO), +$3.29 (3.89%) to $87.77 on volume of 2.5 million shares; and
- St George Bank (SGB), +$1.06 (3.62%) to $30.36 on volume of 1.9 million shares.
On the less salubrious side of the big-cap fence, the following stocks were the worst-performed within the index:
- Newcrest Mining (NCM), -$2.19 (8.28%) to $24.25 on volume of 3.1 million shares;
- Woodside Petroleum (WPL), -$1.95 (3.98%) to $47.05 on volume of 2.8 million shares;
- Brambles (BXB), -$0.08 (1.07%) to $7.43 on volume of 7.9 million shares;
- Suncorp-Metway (SUN), -$0.08 (0.72%) to $11.00 on volume of 8.3 million shares; and
- Wesfarmers (WES), -$0.04 (0.15%) to $27.26 on volume of 3.8 million shares.
At the other end of the market-cap spectrum lie the denizens of the ASX Small Ordinaries (XSO). The small-fry swam in the opposite direction to the big fish today, falling 9.2 points (0.4%), closing out the session at 2315.6 points.
Among the stocks that make up the Small Caps index, 72 index components finished to the upside, and of the rest, 116 closed lower for the session.
The 208 stocks which make up the index traded a total of 368.11m units: volume in the 72 gainers totalling 126.34m shares, with trade totalling 220.4m units in the index's 116 declining components. The major percentage gainers within the index were- HFA Holdings (HFA), +$0.08 (14.41%) to $0.64 on volume of 1.8 million shares;
- Coeur d'Alene Mines Corporation (CXC), +$0.18 (12.33%) to $1.64 on volume of 434.3 thousand shares;
- Dominion Mining (DOM), +$0.23 (10.22%) to $2.48 on volume of 269.9 thousand shares;
- Citigold Corporation (CTO), +$0.02 (9.3%) to $0.24 on volume of 963 thousand shares; and
- Great Southern (GTP), +$0.05 (9%) to $0.55 on volume of 1.2 million shares.
In the red-zone of the little-stock index, the following list represents the biggest downers (in terms of percentage decline):
- Paperlinx (PPX), -$0.39 (22.29%) to $1.36 on volume of 3.8 million shares;
- Strike Resources Ltd (SRK), -$0.15 (19.61%) to $0.62 on volume of 2.3 million shares;
- Rubicon Europe Trust Group (REU), -$0 (16.67%) to $0.02 on volume of 1.3 million shares;
- CopperCo (CUO), -$0.03 (15%) to $0.17 on volume of 7.3 million shares; and
- NRW Holdings (NWH), -$0.21 (14.75%) to $1.19 on volume of 2.2 million shares.
Index Changes
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XAO | All Ordinaries | 4597.9 | 53.2 | 1.17 | 1009.6m |
| XFL | ASX 50 | 4601.5 | 92.1 | 2.04 | 353.3m |
| XJO | ASX 200 | 4618.7 | 78.3 | 1.72 | 796m |
| XKO | ASX 300 | 4600.4 | 73.6 | 1.63 | 936.8m |
| XMD | ASX Mid-Cap 50 | 4414.5 | 15.5 | 0.35 | 226.9m |
| XSO | ASX Small Ordinaries | 2315.6 | -9.2 | -0.4 | 356.6m |
| XTL | ASX 20 | 2714.6 | 61.9 | 2.33 | 166m |
| XTO | ASX 100 | 3782.5 | 67.9 | 1.83 | 580.2m |
Market Breadth
| ASX20 | XTO | XJO | XAO | XSO | Market | |
|---|---|---|---|---|---|---|
| Advances | 16 | 65 | 118 | 154 | 72 | 304 |
| Declines | 5 | 37 | 83 | 283 | 116 | 738 |
| Advancing Volume | 145.2m | 369.7m | 481.2m | 495.8m | 126.3m | 589.5m |
| Declining Volume | 25.8m | 217.8m | 325.9m | 469.5m | 220.4m | 692.9m |
GICS Industry Indices
Among the 11 industry indices, 8 registered an advance for the session, the remaining 3 lost ground.
The best performing index was Property Trusts (XPJ), which added 41.9 points (3.1%) to 1393.4 points. The 21 stocks which make up the index traded a total of 122.6m units; 17 index components rose, with rising volume amounting to 105.9m shares, while the 4 decliners had volume traded totalling 16.7m units. The major percentage gainers within the index were
- Macquarie Countrywide Trust (MCW), +$0.09 (9.44%) to $0.99 on volume of 6.3 million shares;
- Stockland (SGP), +$0.40 (7.55%) to $5.70 on volume of 5 million shares;
- Abacus Property Group (ABP), +$0.06 (6.9%) to $0.93 on volume of 1.3 million shares;
- Bunnings Warehouse Property Trust (BWP), +$0.11 (6.09%) to $1.83 on volume of 380.7 thousand shares; and
- ING Office Fund (IOF), +$0.07 (5.3%) to $1.39 on volume of 4.3 million shares.
Second in the index leadership stakes was Materials (XMJ), which gained 292.7 points (2.86%) to 10521.1 points. The 45 stocks which make up the index traded a total of 238.38m units; 18 index components rose, with rising volume amounting to 103.13m shares, while the 25 decliners had volume traded totalling 132.17m units. The major percentage gainers within the index were
- Coeur d'Alene Mines Corporation (CXC), +$0.18 (12.33%) to $1.64 on volume of 434.3 thousand shares;
- Great Southern (GTP), +$0.05 (9%) to $0.55 on volume of 1.2 million shares;
- Panoramic Resources (PAN), +$0.10 (8.41%) to $1.23 on volume of 1.5 million shares;
- BHP Billiton (BHP), +$1.91 (6.41%) to $31.70 on volume of 24.4 million shares; and
- Equinox Minerals (EQN), +$0.15 (5.77%) to $2.75 on volume of 1.7 million shares.
The bronze medal for today goes to Utilities (XUJ), which climbed 115.2 points (2.46%) to 4790.5 points. The 10 stocks which make up the index traded a total of 38.43m units; 8 index components rose, with rising volume amounting to 24.32m shares, while sole declining stock traded 10.72m units. The major percentage gainers within the index were
- SP Ausnet (SPN), +$0.05 (4.42%) to $1.18 on volume of 9.1 million shares;
- Babcock & Brown Wind Partners Group (BBW), +$0.04 (3.77%) to $1.10 on volume of 1.9 million shares;
- APA Group (APA), +$0.12 (3.75%) to $3.32 on volume of 729.7 thousand shares;
- Duet Group (DUE), +$0.10 (3.53%) to $2.93 on volume of 2.3 million shares; and
- AGL Energy (AGK), +$0.34 (2.52%) to $13.84 on volume of 1.8 million shares.
The worst-performed index for the session was Energy (XEJ), which dipped 343.3 points (2.29%) to 14655 points. The 19 stocks which make up the index traded a total of 70.66m units; The 12 decliners had volume traded totalling 39.04m units, and 7 index components rose, with rising volume amounting to 31.61m shares, The major percentage decliners within the index were
- Roc Oil Company (ROC), -$0.1 (11.11%) to $0.80 on volume of 2.1 million shares;
- Riversdale Mining (RIV), -$0.71 (9.7%) to $6.61 on volume of 1.4 million shares;
- Felix Resources (FLX), -$1.06 (7.7%) to $12.70 on volume of 1.4 million shares;
- Paladin Energy (PDN), -$0.26 (7.34%) to $3.28 on volume of 6.4 million shares; and
- Oil Search (OSH), -$0.37 (7.25%) to $4.73 on volume of 12.4 million shares.
Just missing out on the wooden spoon was Information Technology (XIJ), which slid 4.2 points (0.81%) to 511.2 points. There are only 2 stocks in the index, and today they traded a total of 1.77m units; the one decliner was Computershare (CPU), -$0.10 (1.08%) to $9.14 on volume of 1.3 million shares.
Third-to-last amongst the sector indices was Industrials (XNJ), which slid 19.3 points (0.45%) to 4257.1 points. The 32 stocks which make up the index traded a total of 98.27m units; The 19 decliners had volume traded totalling 70.18m units, and 13 index components rose, with rising volume amounting to 28.09m shares, The major percentage decliners within the index were
- NRW Holdings (NWH), -$0.21 (14.75%) to $1.19 on volume of 2.2 million shares;
- Alesco Corporation (ALS), -$0.37 (6.32%) to $5.48 on volume of 187 thousand shares;
- Transpacific Industries (TPI), -$0.27 (4.75%) to $5.41 on volume of 855.1 thousand shares;
- Transfield Services (TSE), -$0.29 (4.27%) to $6.50 on volume of 695 thousand shares; and
- Macmahon Holdings (MAH), -$0.06 (4.15%) to $1.39 on volume of 3.9 million shares.
Sector Indices
| Code | GICS Sector | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XPJ | Property Trusts | 1393.4 | 41.9 | 3.1 | 123m |
| XMJ | Materials | 10521.1 | 292.7 | 2.86 | 238m |
| XUJ | Utilities | 4790.5 | 115.2 | 2.46 | 38m |
| XXJ | Financials ex Property Trusts | 5074.5 | 105.9 | 2.13 | 99m |
| XDJ | Consumer Discretionary | 1540.5 | 30.1 | 1.99 | 48m |
| XTJ | Telecommunications | 1493.3 | 27.5 | 1.88 | 63m |
| XHJ | Healthcare | 9380.8 | 167.4 | 1.82 | 12m |
| XSJ | Consumer Staples | 7218.7 | 91.2 | 1.28 | 31m |
| XNJ | Industrials | 4257.1 | -19.3 | -0.45 | 98m |
| XIJ | Information Technology | 511.2 | -4.2 | -0.81 | 2m |
| XEJ | Energy | 14655 | -343.3 | -2.29 | 71m |
All Ordinaries Major Movers
All Ords Volume Leaders
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| TLS | Telstra Corporation Limited. | 4.38 | 0.06 | 1.39 | 54.6m |
| ADY | Admiralty Resources NL | 0.05 | 0.00 | -7.41 | 25.6m |
| BHP | BHP Billiton Limited | 31.70 | 1.91 | 6.41 | 24.4m |
| OZL | OZ Minerals Limited | 1.46 | 0.08 | 5.43 | 23.1m |
| IPL | Incitec Pivot Limited | 4.25 | 0.08 | 1.92 | 22.1m |
All Ords Percentage Gainers
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| HFA | HFA Holdings Limited | 0.64 | 0.08 | 14.41 | 1.8m |
| CXC | Coeur d'Alene Mines Corporation | 1.64 | 0.18 | 12.33 | 434.3k |
| VBA | Virgin Blue Holdings Limited | 0.37 | 0.04 | 12.12 | 9m |
| RMS | Ramelius Resources Limited | 0.67 | 0.07 | 11.67 | 129.1k |
| MCU | Mitchell Communication Group Limited | 0.60 | 0.06 | 11.11 | 300.2k |
All Ords Percentage Losers
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| GRR | Grange Resources Limited. | 0.82 | -0.28 | -25.45 | 262.7k |
| ARH | Australasian Resources Limited | 0.53 | -0.18 | -25 | 397.8k |
| PPX | Paperlinx Limited | 1.36 | -0.39 | -22.29 | 3.8m |
| CEG | CEC Group Limited | 0.21 | -0.06 | -22.22 | 75.3k |
| NFK | Norfolk Group Limited | 0.77 | -0.22 | -22.22 | 214.8k |
