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Nobody can say that they weren't warned - those who chased the morning did their balls today. Just this morning I babbled thusly...
We all know what happens to people who join in the nuffie orgasm and dive in at the ASX open... they get gutted like fish. And today the trail of gizzards began just before noon, and Crom only knows how the market managed to stay in the green by the end of the day.This time it's no different... chase this spike at your peril.
Those who are not smart enough to read these musings, who blindly followed the US and bought the open, are now wondering what the glistening mess on the floor in front of them might be.
Philosophy.
Sometimes the oddest questions pop into my brain. For example: as a young chap, I received some quite-expensive training which concerned getting nasty substances in your eyes, getting half-choked, and generally being presented with situations that folks would not particularly like.
The aim of the game was to familiarise us with unpleasant situations in order that - if the same situation were to arise in our professional lives - we would not be shocked, even if our 'battlespace effectiveness' was utterly compromised in the end. (In the 1980s nobody used wanky terms like 'battlespace effectiveness', of course... our instructors were not the complete dickheads that run such places today)
[GT Edited the excessively-dark content that previously appeared below]
OK - time to get back off a little on the nuttery and get back to shameless self-promotion. After all, that is supposed to be what Vanity Publishing is all about.
OK - let's all remember how clever I am (I'm handsome too). Does anybody remember way back (December 13th, 2005, if memory serves) when your Beloved GT declared an interim top in the Energy sector, and in particular in Natural Gas and Heating Oil? The short NatGas made a profit of 13,000 per contract in two sessions (margin requirement for NG was about $4k back then). We're sneaking up on another massive move in the Energy complex, but this time it's going to be on the long side.
Major Market Indices
The broad market - the All Ordinaries (XAO) - registered a gain of 53.6 points (1.46%), finishing at 3726 points. Ordinarily that would be cause for mild satisfaction, but it depends on where one entered (as the Bishop said to the choirboy).
After all, the index clsoed at its intraday low (3726), having opened at its intraday high (3813.6). So there was a delcine of almost 90 points from the open to the close.
Total volume traded on the ASX was 1.07bn units, 15.1% below its 10-day average of 1.26bn shares.The ASX's daily listing of all stocks included 1127 different 3-letter FPO's which traded (i.e., had non-zero trade volume). Of these, 474 issues rose, with volume in rising issues totalling 494.1m units; there were 403 declining stocks, which traded aggregate declining volume of 426.5m shares.
Of the 493 All Ordinaries components, 256 rose while 151 fell. Volume was tilted in favour of the gainers by a margin of 1.1:1, with 398.33m shares traded in gainers while 363.2m 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 50.8 points (1.37%), closing out the session at 3748.1 points.
| Name | Close | +/-(%) |
|---|---|---|
| All Ordinaries | 3726.00 | 53.60 (1.5%) |
| ASX 20 | 2224.60 | 33.50 (1.5%) |
| ASX 50 | 3751.00 | 45.60 (1.2%) |
| ASX 100 | 3078.10 | 41.30 (1.4%) |
| ASX 200 | 3748.10 | 50.80 (1.4%) |
| ASX 300 | 3729.90 | 51.20 (1.4%) |
| ASX Mid-Cap 50 | 3548.70 | 79.60 (2.3%) |
| ASX Small Ordinaries | 1809.30 | 31.50 (1.8%) |
The "heavy hitters" of the Australian market - the ASX 20 Leaders (XTL) - rose 33.5 points (1.53%), closing out the session at 2224.6 points.
The 21 stocks which make up the index traded a total of 125.76m units; 11 index components rose, with rising volume amounting to 69.67m shares, while the 8 decliners had volume traded totalling 51.27m units. The major percentage gainers within the index were
- BHP Billiton (BHP), +$1.40 (5.6%) to $26.40 on volume of 10.3 million shares;
- Newcrest Mining (NCM), +$1.08 (5.41%) to $21.04 on volume of 1.7 million shares;
- RIO Tinto (RIO), +$3.00 (4.35%) to $72.00 on volume of 2.2 million shares;
- Telstra Corporation. (TLS), +$0.16 (3.9%) to $4.26 on volume of 23.5 million shares; and
- AMP (AMP), +$0.20 (3.88%) to $5.35 on volume of 5.3 million shares.
On the less salubrious side of the big-cap fence, the following stocks were the worst-performed within the index:
- Macquarie Group (MQG), -$0.87 (3.69%) to $22.73 on volume of 1.8 million shares;
- St George Bank (SGB), -$0.8 (3.33%) to $23.20 on volume of 1.7 million shares;
- Brambles (BXB), -$0.25 (3.19%) to $7.59 on volume of 5.3 million shares;
- Commonwealth Bank Of Australia (CBA), -$0.9 (2.73%) to $32.10 on volume of 5.3 million shares; and
- ANZ Banking Group (ANZ), -$0.27 (1.92%) to $13.78 on volume of 12.1 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 had a somewhat better day than its large-cap counterpart, moving up 31.5 points (1.77%), closing out the session at 1809.3 points.
The 207 stocks which make up the index traded a total of 231.01m units: volume in the 130 gainers totalling 113.4m shares, with trade totalling 82.45m units in the index's 49 declining components. The major percentage gainers within the index were- NRW Holdings (NWH), +$0.09 (23.29%) to $0.45 on volume of 2.1 million shares;
- Austal (ASB), +$0.37 (22.53%) to $1.99 on volume of 233.8 thousand shares;
- Mirvac Industrial Trust (MIX), +$0.03 (18.52%) to $0.16 on volume of 152.3 thousand shares;
- Mineral Resources (MIN), +$0.27 (12.86%) to $2.37 on volume of 42.4 thousand shares; and
- Mirabela Nickel (MBN), +$0.16 (12.12%) to $1.48 on volume of 15.4 thousand shares.
In the red-zone of the little-stock index, the following list represents the biggest downers (in terms of percentage decline):
- Timbercorp (TIM), -$0.07 (15.66%) to $0.35 on volume of 1.4 million shares;
- Albidon (ALB), -$0.05 (14.06%) to $0.28 on volume of 715.9 thousand shares;
- Atlas Iron (AGO), -$0.05 (8.33%) to $0.55 on volume of 3.6 million shares;
- Becton Property Group (BEC), -$0.01 (7.41%) to $0.13 on volume of 233.9 thousand shares; and
- Alliance Resources (AGS), -$0.04 (7.14%) to $0.52 on volume of 76.3 thousand shares.
Index Changes
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XAO | All Ordinaries | 3726 | 53.6 | 1.46 | 862.2m |
| XFL | ASX 50 | 3751 | 45.6 | 1.23 | 303.7m |
| XJO | ASX 200 | 3748.1 | 50.8 | 1.37 | 714.1m |
| XKO | ASX 300 | 3729.9 | 51.2 | 1.39 | 787.5m |
| XMD | ASX Mid-Cap 50 | 3548.7 | 79.6 | 2.29 | 258.7m |
| XSO | ASX Small Ordinaries | 1809.3 | 31.5 | 1.77 | 225.1m |
| XTL | ASX 20 | 2224.6 | 33.5 | 1.53 | 119.2m |
| XTO | ASX 100 | 3078.1 | 41.3 | 1.36 | 562.4m |
Market Breadth
| ASX20 | XTO | XJO | XAO | XSO | Market | |
|---|---|---|---|---|---|---|
| Advances | 11 | 66 | 138 | 256 | 130 | 474 |
| Declines | 8 | 30 | 54 | 151 | 49 | 403 |
| Advancing Volume | 69.7m | 271.1m | 359.3m | 398.3m | 113.4m | 494.1m |
| Declining Volume | 51.3m | 253.6m | 310m | 363.2m | 82.4m | 426.5m |
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 Information Technology (XIJ), which added 14.6 points (3.78%) to 401 points. There are only two stock in the index - both advanced...
- Computershare (CPU), +$0.29 (4.28%) to $7.07 on volume of 2.3 million shares; and
- Iress Market Technology (IRE), +$0.01 (0.22%) to $4.61 on volume of 145.7 thousand shares.
Second in the index leadership stakes was Telecommunications (XTJ), which gained 50.6 points (3.66%) to 1431.4 points. The 3 stocks which make up the index traded a total of 28.71m units; all three index components rose today -
- Telstra Corporation. (TLS), +$0.16 (3.9%) to $4.26 on volume of 23.5 million shares;
- Telecom Corporation Of New Zealand (TEL), +$0.04 (1.91%) to $2.13 on volume of 3.4 million shares; and
- Singapore Telecommunications. (SGT), +$0.01 (0.4%) to $2.49 on volume of 1.9 million shares.
The bronze medal for today goes to Healthcare (XHJ), which climbed 285.5 points (3.22%) to 9158.5 points. The 9 stocks which make up the index traded a total of 9.86m units; 8 index components rose, with rising volume amounting to 8.88m shares. The major percentage gainers within the index were
- Sonic Healthcare (SHL), +$0.89 (7.17%) to $13.30 on volume of 1.7 million shares;
- Primary Health Care (PRY), +$0.18 (4.62%) to $4.08 on volume of 1.5 million shares;
- Cochlear (COH), +$2.26 (4.11%) to $57.27 on volume of 178.2 thousand shares;
- ResMed Inc. (RMD), +$0.21 (3.98%) to $5.49 on volume of 905 thousand shares; and
- Ansell (ANN), +$0.45 (3.59%) to $13.00 on volume of 695.2 thousand shares.
The worst-performed index for the session was Financials ex Property Trusts (XXJ), which dipped 24.8 points (0.64%) to 3878 points. The 29 stocks which make up the index traded a total of 90.45m units; 12 decliners had volume traded totalling 49.24m units. 15 index components rose, with rising volume amounting to 32.91m shares, The major percentage decliners within the index were
- Babcock & Brown (BNB), -$0.08 (13.51%) to $0.48 on volume of 8.1 million shares;
- Lend Lease Corporation (LLC), -$0.45 (6.34%) to $6.65 on volume of 1.5 million shares;
- FKP Property Group (FKP), -$0.07 (6.22%) to $1.06 on volume of 619.8 thousand shares;
- IOOF Holdings (IFL), -$0.17 (3.7%) to $4.43 on volume of 59.1 thousand shares; and
- Macquarie Group (MQG), -$0.87 (3.69%) to $22.73 on volume of 1.8 million shares.
Just missing out on the wooden spoon was Consumer Discretionary (XDJ), which slid 2.3 points (0.19%) to 1187.1 points. The 24 stocks which make up the index traded a total of 27.62m units; The 4 decliners had volume traded totalling 6.83m units, and 18 index components rose, with rising volume amounting to 20.39m shares, The major percentage decliners within the index were
- Macquarie Communications Infrastructure Group (MCG), -$0.14 (12.07%) to $1.02 on volume of 2.5 million shares;
- News Corporation Inc (Voting CDI) (NWS), -$0.21 (1.81%) to $11.39 on volume of 2.6 million shares;
- Flight Centre (FLT), -$0.14 (1.36%) to $10.16 on volume of 614.8 thousand shares; and
- Harvey Norman Holdings (HVN), -$0.01 (0.41%) to $2.40 on volume of 1.1 million shares.
Third-to-last amongst the sector indices was Utilities (XUJ), which slid 8.7 points (0.19%) to 4571.8 points. The 10 stocks which make up the index traded a total of 73m units; The 5 decliners had volume traded totalling 66.17m units, and 4 index components rose, with rising volume amounting to 6.27m shares, The major percentage decliners within the index were
- Babcock & Brown Infrastructure Group (BBI), -$0.02 (25.56%) to $0.07 on volume of 61.3 million shares;
- Duet Group (DUE), -$0.03 (1.27%) to $2.33 on volume of 653.7 thousand shares;
- SP Ausnet (SPN), -$0.01 (0.86%) to $1.15 on volume of 2 million shares;
- Babcock & Brown Wind Partners Group (BBW), -$0.01 (0.62%) to $0.80 on volume of 1.6 million shares; and
- AGL Energy (AGK), -$0.02 (0.13%) to $15.27 on volume of 707.5 thousand shares.
Sector Indices
| Code | GICS Sector | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XIJ | Information Technology | 401 | 14.6 | 3.78 | 2m |
| XTJ | Telecommunications | 1431.4 | 50.6 | 3.66 | 29m |
| XHJ | Healthcare | 9158.5 | 285.5 | 3.22 | 10m |
| XMJ | Materials | 8257 | 253.6 | 3.17 | 183m |
| XEJ | Energy | 12718.3 | 253.5 | 2.03 | 68m |
| XPJ | Property Trusts | 1024.8 | 17.1 | 1.7 | 124m |
| XSJ | Consumer Staples | 6442.2 | 95 | 1.5 | 26m |
| XNJ | Industrials | 3420.7 | 36 | 1.06 | 100m |
| XDJ | Consumer Discretionary | 1187.1 | -2.3 | -0.19 | 28m |
| XUJ | Utilities | 4571.8 | -8.7 | -0.19 | 73m |
| XXJ | Financials ex Property Trusts | 3878 | -24.8 | -0.64 | 90m |
All Ordinaries Major Movers
All Ords Volume Leaders
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| BBI | Babcock & Brown Infrastructure Group | 0.07 | -0.02 | -25.56 | 61.3m |
| IPL | Incitec Pivot | 3.00 | -1.14 | -27.54 | 39.9m |
| QGC | Queensland Gas Company | 5.75 | 0.00 | 0 | 31.9m |
| TLS | Telstra Corporation. | 4.26 | 0.16 | 3.9 | 23.5m |
| GPT | GPT Group | 1.12 | 0.01 | 0.45 | 19.8m |
All Ords Percentage Gainers
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| TCQ | Trinity Consolidated Group | 0.43 | 0.11 | 32.31 | 2.4m |
| CUS | Customers | 0.13 | 0.03 | 25 | 874k |
| NWH | NRW Holdings | 0.45 | 0.09 | 23.29 | 2.1m |
| ASB | Austal | 1.99 | 0.37 | 22.53 | 233.8k |
| SPH | Sphere Investments | 0.49 | 0.08 | 19.51 | 68.3k |
All Ords Percentage Losers
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| ABS | ABC Learning Centres | 0.00 | 0.00 | 38k | |
| AVM | Anvil Mining | 0.95 | -0.60 | -38.71 | 378k |
| IPL | Incitec Pivot | 3.00 | -1.14 | -27.54 | 39.9m |
| BBI | Babcock & Brown Infrastructure Group | 0.07 | -0.02 | -25.56 | 61.3m |
| TIM | Timbercorp | 0.35 | -0.07 | -15.66 | 1.4m |
