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It has been brought to my attention that one of the new ForEx 'trade shops' has actually prevented its clients from using a specific trade algorithm: I am in the process of verifying if this is the case, but if so it shows that the forex shop in question is a fake (in other words, it's a bucket shop that doesn't actually pass trades to the forexmarket proper, but instead simply offsets internal client trades and 'trades the nett').
The trade system in question is a pure 'black box', but it has produced stellar results. I'm not going to reproduce its name here, because i don't want to be seen to endorse it - but it has routinely produced win/loss percentages in the 90s and returns of 3-5% per day.
For some bunch of ticket clippers to declare that clients may not use a specific trade-generation algorithm, is an absolute disgrace: I have yet to confirm the story, but frankly if it is true then the ForEx shop in question should be avoided like the plague because it is actually a hollow log.
Furthermore, if ASIC is supposed to be about consumer protection, then they ought to close down brokers who are involved in this sort of scam: 'happy to have LOSING clients (we can keep their money without even sending it to the exchange)... you winners can bugger off'.
Consider if one of the major brokerages declared that a specific analysis methd was 'out of bounds' and that it would not accept trades based on it: given that a broker is paid a fee (either through a spread or through an explicit commission) to send trades to the exchange on behalf of clients, they should not give a monkey's what generates those trades.
Anyhow - this story is devloping, as they say in the classics.
Major Market Indices
The broad market - the All Ordinaries (XAO) - declined gently, dropping 30.1 points (0.83%), finishing at 3593.9 points. The close was the intraday high, while the low for the da90 mminutes, the All Ords spent the rest of the day rallying. That's not evidence of bearish sentiment - that's evidence that everyone is still trying to buy the bottom.
Total volume traded on the ASX was 885.1m units, 4.7% below its 10-day average of 929.1m shares.The ASX's daily listing of all stocks included 961 different 3-letter FPO's which traded (i.e., had non-zero trade volume). Of these, 293 issues rose, with volume in rising issues totalling 252.7m units; there were 461 declining stocks, which traded aggregate declining volume of 508.9m shares.
Of the 487 All Ordinaries components, 137 rose while 248 fell. Volume was tilted in favour of the losers by a margin of 2.1:1, with 202.24m shares traded in gainers while 432.82m shares traded in the day's losers.
The Index that forms the cash basis for the SPI Futures - the S&P/ASX 200 (XJO) - fell mildly, losing 28.7 points (0.78%), closing out the session at 3654.6 points.
| Name | Close | +/-(%) |
|---|---|---|
| All Ordinaries | 3593.90 | -30.10 (0.8%) |
| ASX 20 | 2188.00 | -15.10 (0.7%) |
| ASX 50 | 3689.20 | -29.70 (0.8%) |
| ASX 100 | 3010.50 | -23.70 (0.8%) |
| ASX 200 | 3654.60 | -28.70 (0.8%) |
| ASX 300 | 3642.00 | -28.30 (0.8%) |
| ASX Mid-Cap 50 | 3325.40 | -21.40 (0.6%) |
| ASX Small Ordinaries | 1741.30 | -11.50 (0.7%) |
The "heavy hitters" of the Australian market - the ASX 20 Leaders (XTL) - slid modestly, falling 15.1 points (0.69%), closing out the session at 2188 points.
Among the 20 big guns, 7 index components finished to the upside, and 13 lost ground. The stocks which make up the index traded a total of 100.15m units; 7 index components rose, with rising volume amounting to 49.06m shares, while the 13 decliners had volume traded totalling 50.54m units. The major percentage gainers within the index were
- Telstra Corporation (TLS), +$0.09 (2.47%) to $3.74 on volume of 32.9 million shares;
- CSL (CSL), +$0.80 (2.46%) to $33.30 on volume of 1.4 million shares;
- Westpac Banking Corporation (WBC), +$0.11 (0.67%) to $16.55 on volume of 3.3 million shares;
- AMP (AMP), +$0.02 (0.36%) to $5.50 on volume of 3.9 million shares; and
- Newcrest Mining (NCM), +$0.10 (0.32%) to $31.48 on volume of 2 million shares.
On the less salubrious side of the big-cap fence, the following stocks were the worst-performed within the index:
- Westfield Group (WDC), -$0.73 (5.28%) to $13.09 on volume of 6.2 million shares;
- Stockland (SGP), -$0.16 (4.2%) to $3.65 on volume of 8.2 million shares;
- Wesfarmers (WES), -$0.52 (2.89%) to $17.49 on volume of 1.9 million shares;
- Woodside Petroleum (WPL), -$0.93 (2.61%) to $34.77 on volume of 1.2 million shares; and
- Rio Tinto (RIO), -$0.95 (2.3%) to $40.35 on volume of 3.3 million shares.
The ASX Small Ordinaries (XSO) slid in line with its large-cap counterpart. The Small Ords slid modestly, falling 11.5 points (0.66%), closing out the session at 1741.3 points.
Among the stocks that make up the Small Caps index, 62 index components finished to the upside, and of the rest, 111 closed lower for the session.
The 210 stocks which make up the index traded a total of 323.43m units: volume in the 62 gainers totalling 82.71m shares, with trade totalling 185.63m units in the index's 111 declining components. The major percentage gainers within the index were- City Pacific Limited (CIY), +$0.04 (30.43%) to $0.15 on volume of 144.4 thousand shares;
- Sundance Resources (SDL), +$0.02 (15%) to $0.12 on volume of 27.4 million shares;
- Lynas Corporation (LYC), +$0.04 (12.5%) to $0.32 on volume of 4.4 million shares;
- Babcock And Brown Capital (BCM), +$0.13 (10.82%) to $1.28 on volume of 226.3 thousand shares; and
- Silex Systems (SLX), +$0.31 (9.28%) to $3.65 on volume of 55.6 thousand shares.
In the red-zone of the little-stock index, the following list represents the biggest downers (in terms of percentage decline):
- Mintails (MLI), -$0.01 (18.37%) to $0.04 on volume of 10.7 million shares;
- GRD (GRD), -$0.07 (15.56%) to $0.38 on volume of 326.6 thousand shares;
- Albidon (ALB), -$0.03 (14.29%) to $0.18 on volume of 1.3 million shares;
- PanAust Ltd (PNA), -$0.03 (13.95%) to $0.19 on volume of 23.9 million shares; and
- HFA Holdings (HFA), -$0.02 (12.9%) to $0.14 on volume of 9.3 million shares.
Index Changes
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XAO | All Ordinaries | 3593.9 | -30.1 | -0.83 | 726.2m |
| XFL | ASX 50 | 3689.2 | -29.7 | -0.8 | 240m |
| XJO | ASX 200 | 3654.6 | -28.7 | -0.78 | 603.3m |
| XKO | ASX 300 | 3642 | -28.3 | -0.77 | 704.5m |
| XMD | ASX Mid-Cap 50 | 3325.4 | -21.4 | -0.64 | 150.2m |
| XSO | ASX Small Ordinaries | 1741.3 | -11.5 | -0.66 | 314.2m |
| XTL | ASX 20 | 2188 | -15.1 | -0.69 | 91.9m |
| XTO | ASX 100 | 3010.5 | -23.7 | -0.78 | 390.2m |
Market Breadth
| ASX20 | XTO | XJO | XAO | XSO | Market | |
|---|---|---|---|---|---|---|
| Advances | 7 | 32 | 65 | 137 | 62 | 293 |
| Declines | 13 | 63 | 123 | 248 | 111 | 461 |
| Advancing Volume | 49.1m | 115.5m | 174.7m | 202.2m | 82.7m | 252.7m |
| Declining Volume | 50.5m | 242.3m | 354.8m | 432.8m | 185.6m | 508.9m |
GICS Industry Indices
Among the 11 industry indices, it was pretty much even stevens, with a very slight lead to the duds... the 5 that had an "up" day were just shaded by the remaining 6 which didn't.
The best performing index was Telecommunications (XTJ), which added 29.9 points (2.4%) to 1273.9 points. This index only contains 3 stocks; they traded a total of 38.75m units today. All 3 index components rose thusly...
- Singapore Telecommunications. (SGT), +$0.08 (3.21%) to $2.57 on volume of 690.3 thousand shares;
- Telstra Corporation (TLS), +$0.09 (2.47%) to $3.74 on volume of 32.9 million shares; and
- Telecom Corporation Of New Zealand (TEL), +$0.03 (1.45%) to $2.10 on volume of 5.1 million shares.
Second in the index leadership stakes was Utilities (XUJ), which gained 90.3 points (2.15%) to 4284.2 points. The 11 stocks which make up the index traded a total of 30.55m units; 6 index components rose, with rising volume amounting to 16.35m shares, while the 5 decliners had volume traded totalling 14.2m units. The major percentage gainers within the index were
- Babcock & Brown Infrastructure Group (BBI), +$0.01 (4.35%) to $0.12 on volume of 9.2 million shares;
- SP Ausnet (SPN), +$0.04 (3.76%) to $0.97 on volume of 5 million shares;
- AGL Energy (AGK), +$0.46 (3.24%) to $14.65 on volume of 1.1 million shares;
- APA Group (APA), +$0.06 (1.99%) to $3.07 on volume of 307.1 thousand shares; and
- Hastings Diversified Utilities Fund (HDF), +$0.03 (1.46%) to $2.08 on volume of 111.7 thousand shares.
The bronze medal for today goes to Healthcare (XHJ), which climbed 142.9 points (1.74%) to 8337.5 points. The 9 stocks which make up the index traded a total of 8.16m units; 4 index components rose, with rising volume amounting to 3.02m shares, while the 5 decliners had volume traded totalling 5.14m units. The major percentage gainers within the index were
- Cochlear (COH), +$2.78 (5.22%) to $56.00 on volume of 220.9 thousand shares;
- ResMed Inc. (RMD), +$0.18 (3.5%) to $5.32 on volume of 1.1 million shares;
- CSL (CSL), +$0.80 (2.46%) to $33.30 on volume of 1.4 million shares; and
- Ramsay Health Care (RHC), +$0.03 (0.32%) to $9.48 on volume of 245.2 thousand shares.
The worst-performed index for the session was Property Trusts (XPJ), which dipped 38.3 points (4.1%) to 896.9 points. The 21 stocks which make up the index traded a total of 157.42m units; The 17 decliners had volume traded totalling 129.84m units, and 3 index components rose, with rising volume amounting to 3.93m shares, The major percentage decliners within the index were
- Centro Retail (CER), -$0.02 (12.5%) to $0.11 on volume of 11.8 million shares;
- Abacus Property Group (ABP), -$0.03 (9.43%) to $0.24 on volume of 1.9 million shares;
- Macquarie Office Trust (MOF), -$0.02 (5.77%) to $0.25 on volume of 13.3 million shares;
- Westfield Group (WDC), -$0.73 (5.28%) to $13.09 on volume of 6.2 million shares; and
- ING Industrial Fund (IIF), -$0.01 (5.13%) to $0.19 on volume of 4 million shares.
Just missing out on the wooden spoon was Energy (XEJ), which slid 335.8 points (2.72%) to 11996.3 points. The 20 stocks which make up the index traded a total of 28.19m units; The 13 decliners had volume traded totalling 15.05m units, and 5 index components rose, with rising volume amounting to 9.05m shares, The major percentage decliners within the index were
- Australian Worldwide Exploration (AWE), -$0.25 (9.4%) to $2.41 on volume of 1.7 million shares;
- Gloucester Coal (GCL), -$0.33 (8.53%) to $3.54 on volume of 358.2 thousand shares;
- Worleyparsons (WOR), -$0.86 (5.78%) to $14.01 on volume of 875.9 thousand shares;
- OIL Search (OSH), -$0.23 (4.95%) to $4.42 on volume of 2.8 million shares; and
- Linc Energy Ltd (LNC), -$0.08 (4.52%) to $1.59 on volume of 1.5 million shares.
Third-to-last amongst the sector indices was Consumer Discretionary (XDJ), which slid 21.5 points (1.84%) to 1149.4 points. The 23 stocks which make up the index traded a total of 28.87m units; The 17 decliners had volume traded totalling 26.91m units, and 5 index components rose, with rising volume amounting to 0.95m shares, The major percentage decliners within the index were
- Consolidated Media Holdings (CMJ), -$0.1 (4.63%) to $1.96 on volume of 932.4 thousand shares;
- APN News & Media (APN), -$0.11 (4.58%) to $2.29 on volume of 780.3 thousand shares;
- Billabong International (BBG), -$0.33 (4.07%) to $7.78 on volume of 350 thousand shares;
- Crown (CWN), -$0.24 (4.03%) to $5.71 on volume of 3.6 million shares; and
- Fairfax Media (FXJ), -$0.06 (3.7%) to $1.56 on volume of 6.2 million shares.
Sector Indices
| Code | GICS Sector | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XTJ | Telecommunications | 1273.9 | 29.9 | 2.4 | 39m |
| XUJ | Utilities | 4284.2 | 90.3 | 2.15 | 31m |
| XHJ | Healthcare | 8337.5 | 142.9 | 1.74 | 8m |
| XIJ | Information Technology | 422 | 3.9 | 0.93 | 1m |
| XNJ | Industrials | 3186.8 | 5.9 | 0.19 | 68m |
| XXJ | Financials ex Property Trusts | 3875.6 | -15.8 | -0.41 | 70m |
| XSJ | Consumer Staples | 6104.8 | -29.2 | -0.48 | 21m |
| XMJ | Materials | 8694 | -124.4 | -1.41 | 160m |
| XDJ | Consumer Discretionary | 1149.4 | -21.5 | -1.84 | 29m |
| XEJ | Energy | 11996.3 | -335.8 | -2.72 | 28m |
| XPJ | Property Trusts | 896.9 | -38.3 | -4.1 | 157m |
All Ordinaries Major Movers
All Ords Volume Leaders
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| ADY | Admiralty Resources NL | 0.04 | -0.01 | -12.5 | 37.7m |
| TLS | Telstra Corporation. | 3.74 | 0.09 | 2.47 | 32.9m |
| BNB | Babcock & Brown | 0.33 | 0.00 | 0 | 28.2m |
| SDL | Sundance Resources | 0.12 | 0.02 | 15 | 27.4m |
| GPT | GPT Group | 0.90 | -0.01 | -1.1 | 24.6m |
All Ords Percentage Gainers
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| HLG | Hedley Leisure And Gaming Property Fund | 0.46 | 0.11 | 31.43 | 102.3k |
| CIY | City Pacific | 0.15 | 0.04 | 30.43 | 144.4k |
| SDL | Sundance Resources | 0.12 | 0.02 | 15 | 27.4m |
| RPX | Rp Data Ltd | 0.55 | 0.07 | 13.54 | 20k |
| LYC | Lynas Corporation | 0.32 | 0.04 | 12.5 | 4.4m |
All Ords Percentage Losers
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| AXQ | Allco Max Securities And Mortgage Trust | 0.01 | -0.01 | -29.41 | 33k |
| MLI | Mintails | 0.04 | -0.01 | -18.37 | 10.7m |
| GRD | GRD | 0.38 | -0.07 | -15.56 | 326.6k |
| MPF | Multiplex Acumen Property Fund | 0.11 | -0.02 | -15.38 | 128.5k |
| ALB | Albidon | 0.18 | -0.03 | -14.29 | 1.3m |
