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Mmmmmm.... Hope. I imagine that to Mistress Market, the smell of hope is as sweet a savour as the smell of fresh foreskin to the god of the Habiru. (Yahweh is a sick puppy: if it's not "Prove you love me - cut off bits of your willy", it's "Here, Ezekiel - eat this shit sandwich." or "Hey Israelites.. burn some offal for me... I dig that smell"). Anyone like that ought to be locked up, and anyone who would worship anyone like that is a full-on moron.
Frankly if I wandered for forty years around a desert, cutting bits off the knobs of my male kiddies... and all I got for it was the shithole that is the modern-day apartheid state of 'Israel', I would turn around and head back to Egypt, apologise to Pharoah, and try to get a job on the Pyramids.
As an aside - have you ever wondered why it is that people accept the Moses story word for word, when if some inbred unshaven hillbilly from the Ozarks told the same story we would laugh at him?
Imagine if some bloke turned up in the middle of Gunnedah with a couple of sheets of Gyprock with scribble on them, and claimed that he got them from a disembodied voice behind a burning tree.
Anyway - enough about Sky Wizard delusions for now. Let's have a giggle at the clowns who think that the worst economic news is out there (and thatthe market looks forward, and discounts all available information...)... let's just giggle at those who believe every cockamamie line of bullshit that CNBC, Bloomberg and Sky Business can throw at them. After all, they've been right for... how long exactly? Less than a week.
At the end of the day, CNBC, Sky News, Bloomberg and the rest of the noiseworks are a bit like a caged chimp flinging shit at passers-by; they are creatures driven by their environment (which takes the form of a memo from on high saying "Get out there and read that flucking autocue like your career depends on it, blondie").
Yes - I am annoyed, now that you ask...
Major Market Indices
The broad market - the All Ordinaries (XAO) - surged a whopping 126.6 points (3.69%), finishing at 3553.8 points. The index hit an intraday high of 3568.1 at 3:25 pm, while the low for the day was 3481.5 - set at 10:04 am Sydney time when halfthe stocks in the market weren't even open. So today the Opening Orgasm actually led to some follow through.
The awful truth is that da Boyz have to let the breakout nuffies win once in a while - otherwise they (the nuffies) would learn to avoid diving in at the open, and that would impinge on da Boyz' long-term profits.
It sucks rancid goats' balls that it had to be today though... SPISpy had a crack at a short scalp starting at midday and is still holding it.
It's actually not that painful at the moment - the after-market SPI retraced to 3632 within minutes of the day session close - which means that it's going to drop further.
The SPISpy entry was between 3619 and 3626 with a most-likely entry at 3624. The SPI was at 3612 less than ten minutes later, but I am not going to claim the 10-point first target until the SPI is ten points below the low of the noon 1-minute bar (that would require a fall to 3608).
Total volume traded on the ASX was 1.13bn units, 0.8% below its 10-day average of 1.14bn shares.The ASX's daily listing of all stocks included 1023 different 3-letter FPO's which traded (i.e., had non-zero trade volume). Of these, 456 issues rose, with volume in rising issues totalling 625.8m units; there were 360 declining stocks, which traded aggregate declining volume of 411.6m shares.
Of the 488 All Ordinaries components, 263 rose while 144 fell. Volume was tilted in favour of the gainers by a margin of 2.3:1, with 570.66m shares traded in gainers while 245.1m shares traded in the day's losers.
The Index that forms the cash basis for the SPI - the S&P/ASX 200 (XJO) - hurtled skyward to the tune of 141.7 points (4.06%), closing out the session at 3631.6 points.
| Name | Close | +/-(%) |
|---|---|---|
| All Ordinaries | 3553.80 | 126.60 (3.7%) |
| ASX 20 | 2198.90 | 87.40 (4.1%) |
| ASX 50 | 3689.70 | 147.80 (4.2%) |
| ASX 100 | 3000.60 | 116.90 (4.1%) |
| ASX 200 | 3631.60 | 141.70 (4.1%) |
| ASX 300 | 3608.80 | 138.30 (4.0%) |
| ASX Mid-Cap 50 | 3228.20 | 98.20 (3.1%) |
| ASX Small Ordinaries | 1604.00 | 48.60 (3.1%) |
The "heavy hitters" of the Australian market - the ASX 20 Leaders (XTL) - had a bit of a moonshot, stacking on 87.4 points (4.14%), closing out the session at 2198.9 points.
Among the 20 big guns, things were relatively upbeat: only one index component sought to rain on the bull's parade. The stocks which make up the index traded a total of 130.55m units; 20 index components rose, with rising volume amounting to 129.39m shares, while the sole declining stock traded 1.16m units. The major percentage gainers within the index were
- Woodside Petroleum (WPL), +$2.59 (8.5%) to $33.05 on volume of 2.4 million shares;
- CSL (CSL), +$1.96 (6.21%) to $33.53 on volume of 1.7 million shares;
- Commonwealth Bank Of Australia (CBA), +$1.90 (6.15%) to $32.80 on volume of 4.8 million shares;
- Westpac Banking Corporation (WBC), +$1.03 (6.11%) to $17.88 on volume of 9.6 million shares; and
- National Australia Bank (NAB), +$1.15 (5.81%) to $20.96 on volume of 9.3 million shares.
On the less salubrious side of the big-cap fence, there was only one decliner within the index:
- Macquarie Group (MQG), -$0.18 (0.6%) to $29.90 on volume of 1.2 million shares.
The ASX Small Ordinaries (XSO) The small end of the market slightly underperformed its large-cap counterpart. The Small Ords still had a good run, stacking on 48.6 points (3.12%), closing out the session at 1604 points.
Among the stocks that make up the Small Caps index, 123 index components finished to the upside, and of the rest, 63 closed lower for the session.
The 208 stocks which make up the index traded a total of 260.52m units: volume in the 123 gainers was 166.41m shares, with volume of 67.35m units in the index's 63 declining components. The major percentage gainers within the index were- Abacus Property Group (ABP), +$0.04 (18.6%) to $0.26 on volume of 2.5 million shares;
- NRW Holdings (NWH), +$0.03 (14.63%) to $0.24 on volume of 2 million shares;
- TEN Network Holdings (TEN), +$0.15 (14.01%) to $1.18 on volume of 1.5 million shares;
- GUD Holdings (GUD), +$0.60 (13.42%) to $5.07 on volume of 169.6 thousand shares; and
- Paperlinx (PPX), +$0.13 (13.37%) to $1.06 on volume of 2.2 million shares.
In the red-zone of the little-stock index, the following list represents the biggest downers (in terms of percentage decline):
- Mirabela Nickel (MBN), -$0.13 (13.51%) to $0.80 on volume of 130.4 thousand shares;
- ING Real Estate Community Living Group (ILF), -$0.01 (12.99%) to $0.07 on volume of 3.2 million shares;
- AJ Lucas Group (AJL), -$0.5 (11.9%) to $3.70 on volume of 180.4 thousand shares;
- Straits Resources (SRL), -$0.1 (10.38%) to $0.82 on volume of 1.8 million shares; and
- Panoramic Resources (PAN), -$0.09 (10%) to $0.81 on volume of 1 million shares.
Index Changes
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XAO | All Ordinaries | 3553.8 | 126.6 | 3.69 | 870.1m |
| XFL | ASX 50 | 3689.7 | 147.8 | 4.17 | 302.6m |
| XJO | ASX 200 | 3631.6 | 141.7 | 4.06 | 763.7m |
| XKO | ASX 300 | 3608.8 | 138.3 | 3.99 | 839m |
| XMD | ASX Mid-Cap 50 | 3228.2 | 98.2 | 3.14 | 287.3m |
| XSO | ASX Small Ordinaries | 1604 | 48.6 | 3.12 | 249.2m |
| XTL | ASX 20 | 2198.9 | 87.4 | 4.14 | 125.9m |
| XTO | ASX 100 | 3000.6 | 116.9 | 4.05 | 589.9m |
Market Breadth
| ASX20 | XTO | XJO | XAO | XSO | Market | |
|---|---|---|---|---|---|---|
| Advances | 20 | 85 | 166 | 263 | 123 | 456 |
| Declines | 1 | 13 | 32 | 144 | 63 | 360 |
| Advancing Volume | 129.4m | 413.4m | 541.5m | 570.7m | 166.4m | 625.8m |
| Declining Volume | 1.2m | 167.3m | 208.4m | 245.1m | 67.3m | 411.6m |
GICS Industry Indices
Among the 11 industry indices, it was green across the board, as every sector managed to keep its head above water.
The best performing index was Energy (XEJ), which added 637.8 points (5.79%) to 11662.7 points. The 19 stocks which make up the index traded a total of 46.66m units; 16 index components rose, with rising volume amounting to 45.34m shares, while the 3 decliners had volume traded totalling 1.32m units. The major percentage gainers within the index were
- Nexus Energy (NXS), +$0.04 (9.59%) to $0.40 on volume of 2.2 million shares;
- Worleyparsons (WOR), +$1.04 (9.24%) to $12.30 on volume of 2 million shares;
- Santos (STO), +$1.10 (9.05%) to $13.25 on volume of 5.2 million shares;
- Woodside Petroleum (WPL), +$2.59 (8.5%) to $33.05 on volume of 2.4 million shares; and
- Felix Resources (FLX), +$0.52 (7%) to $7.95 on volume of 1.4 million shares.
Second in the index leadership stakes was Industrials (XNJ), which gained 156.6 points (5.26%) to 3131.3 points. The 32 stocks which make up the index traded a total of 82.81m units; 28 index components rose, with rising volume amounting to 78.32m shares, while the 3 decliners had volume traded totalling 3.85m units. The major percentage gainers within the index were
- Leighton Holdings (LEI), +$3.13 (14.69%) to $24.44 on volume of 801.7 thousand shares;
- NRW Holdings (NWH), +$0.03 (14.63%) to $0.24 on volume of 2 million shares;
- Boart Longyear (BLY), +$0.03 (12.82%) to $0.22 on volume of 10.1 million shares;
- Toll Holdings (TOL), +$0.68 (12.27%) to $6.22 on volume of 4.6 million shares; and
- Asciano Group (AIO), +$0.11 (10.48%) to $1.16 on volume of 2.4 million shares.
The bronze medal for today goes to Healthcare (XHJ), which climbed 387.7 points (4.84%) to 8391.8 points. The 9 stocks which make up the index traded a total of 9.98m units; 9 index components rose, with rising volume amounting to 9.98m shares, none of the stocks in the index lost ground. The major percentage gainers within the index were
- CSL (CSL), +$1.96 (6.21%) to $33.53 on volume of 1.7 million shares;
- Sigma Pharmaceuticals Ltd (SIP), +$0.06 (5.29%) to $1.10 on volume of 2.3 million shares;
- Ramsay Health Care (RHC), +$0.47 (5.16%) to $9.58 on volume of 312.5 thousand shares;
- Ansell (ANN), +$0.48 (3.93%) to $12.68 on volume of 1.1 million shares; and
- ResMed Inc. (RMD), +$0.21 (3.9%) to $5.60 on volume of 1.2 million shares.
As mentioned above, there were no declining sectors today - so we can move on down to the Asian market stuff now.
Sector Indices
| Code | GICS Sector | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XEJ | Energy | 11662.7 | 637.8 | 5.79 | 47m |
| XNJ | Industrials | 3131.3 | 156.6 | 5.26 | 83m |
| XHJ | Healthcare | 8391.8 | 387.7 | 4.84 | 10m |
| XXJ | Financials ex Property Trusts | 4045.2 | 185.9 | 4.82 | 94m |
| XMJ | Materials | 7776.1 | 292.5 | 3.91 | 162m |
| XDJ | Consumer Discretionary | 1146 | 41.4 | 3.75 | 62m |
| XSJ | Consumer Staples | 6174.7 | 193 | 3.23 | 30m |
| XIJ | Information Technology | 392.1 | 9.4 | 2.46 | 2m |
| XTJ | Telecommunications | 1409.8 | 29.5 | 2.14 | 27m |
| XPJ | Property Trusts | 921.7 | 13.4 | 1.48 | 207m |
| XUJ | Utilities | 4185.9 | 60.4 | 1.46 | 50m |
All Ordinaries Major Movers
All Ords Volume Leaders
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| DXS | Dexus Property Group | 0.88 | 0.06 | 6.67 | 36.5m |
| GPT | GPT Group | 0.81 | -0.03 | -3.01 | 25.7m |
| BBI | Babcock & Brown Infrastructure Group | 0.07 | -0.01 | -10.98 | 25.6m |
| TLS | Telstra Corporation. | 4.22 | 0.10 | 2.43 | 22.9m |
| IOF | ING Office Fund | 0.84 | -0.18 | -17.65 | 21.2m |
All Ords Percentage Gainers
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| EBB | Everest Babcock & Brown | 0.05 | 0.01 | 25 | 1.6m |
| ABP | Abacus Property Group | 0.26 | 0.04 | 18.6 | 2.5m |
| NFK | Norfolk Group | 0.17 | 0.03 | 17.86 | 952.7k |
| ARR | Arasor International | 0.04 | 0.01 | 16.67 | 34.5k |
| LEI | Leighton Holdings | 24.44 | 3.13 | 14.69 | 801.7k |
All Ords Percentage Losers
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| BNB | Babcock & Brown | 0.17 | -0.09 | -35.29 | 21m |
| SPH | Sphere Investments | 0.31 | -0.12 | -28.24 | 497.7k |
| AVM | Anvil Mining | 1.14 | -0.36 | -24 | 10k |
| IOF | ING Office Fund | 0.84 | -0.18 | -17.65 | 21.2m |
| SHV | Select Harvests | 2.56 | -0.42 | -14.09 | 33.2k |
