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The Nikkei short that I gabbled about in this morning's USRant has yet to pay off - it's currently underwater by 45 Nikkei points. That's neither here nor there in the scheme of things - as I mentioned, this is a leg in to a position trade: target is a new low in global markets. Tonight I'll scale in a small short in the DAX (through CFDs, which permit one to have a position that is a small percentage of a full futures contract).
The proliferation of new 'risk margin only' firms (like HyMarkets) means that you can 'bet' on directional moves in a very low-cost way - your outlay is only the amount of your stop (keeping account balance requirements low), with the offset being that the gain is as little as 30c per DAX point (as opposed to $25 per point for full DA futures) and the srtops are pre-set (a 100 points - WAY too wide)... but nothing stops you from quitting a given trade before the sotp is hit. As such, they are very good vehicles for newcomers who want to have a crack without having to have ten grand to open a futures account.
Major Market Indices
The broad market - the All Ordinaries (XAO) - advanced modestly, rising 14.8 points (0.37%), finishing at 4061.5 points. The index hit an intraday high of 4077.9 at 3:39 pm, while the low for the day was 4038.8 - set at 10:43 am Sydney time. Yet again, the market finished the majority of its intraday move within the first half-hour: the index was we;l above 4065 before the ten-minute mark of the session.
Total volume traded on the ASX was 2.68bn units, 25.2% above its 10-day average of 2.14bn shares.The ASX's daily listing of all stocks included 1428 different 3-letter FPO's which traded (i.e., had non-zero trade volume). Of these, 606 issues rose, with volume in rising issues totalling 1.65bn units; there were 482 declining stocks, which traded aggregate declining volume of 717.1m shares.
Of the 498 All Ordinaries components, 231 rose while 179 fell. Volume was tilted in favour of the gainers by a margin of 2.9:1, with 1.29bn shares traded in gainers while 436.95m shares traded in the day's losers.
The Index that forms the cash basis for the SPI Futures - the S&P/ASX 200 (XJO) - posted a modest rise of 15 points (0.37%), closing out the session at 4062.2 points.
| Name | Close | +/-(%) |
|---|---|---|
| All Ordinaries | 4061.50 | 14.80 (0.4%) |
| ASX 20 | 2446.10 | 12.80 (0.5%) |
| ASX 50 | 4073.50 | 15.10 (0.4%) |
| ASX 100 | 3321.60 | 12.20 (0.4%) |
| ASX 200 | 4062.20 | 15.00 (0.4%) |
| ASX 300 | 4059.10 | 16.40 (0.4%) |
| ASX Mid-Cap 50 | 3649.30 | 12.10 (0.3%) |
| ASX Small Ordinaries | 2205.50 | 10.00 (0.5%) |
The "heavy hitters" of the Australian market - the ASX 20 Leaders (XTL) - advanced by under a percent, adding 12.8 points (0.53%), closing out the session at 2446.1 points.
Among the 20 big guns, 14 index components finished to the upside, and 5 lost ground. The stocks which make up the index traded a total of 215.51m units; 14 index components rose, with rising volume amounting to 182.72m shares, while the 5 decliners had volume traded totalling 23.29m units. The major percentage gainers within the index were
- Suncorp-Metway Ltd (SUN), +$0.24 (3.68%) to $6.76 on volume of 9.8 million shares;
- QBE Insurance Group Ltd (QBE), +$0.60 (3.17%) to $19.52 on volume of 7 million shares;
- AMP Ltd (AMP), +$0.15 (3.01%) to $5.14 on volume of 8.5 million shares;
- ANZ Banking Group (ANZ), +$0.42 (2.49%) to $17.30 on volume of 17.4 million shares; and
- Stockland (SGP), +$0.08 (2.41%) to $3.40 on volume of 14.3 million shares.
On the less salubrious side of the big-cap fence, the following stocks were the worst-performed within the index:
- Wesfarmers Ltd (WES), -$0.37 (1.63%) to $22.35 on volume of 4 million shares;
- Origin Energy Ltd (ORG), -$0.11 (0.72%) to $15.13 on volume of 2.9 million shares;
- BHP Billiton Ltd (BHP), -$0.23 (0.6%) to $38.04 on volume of 12.4 million shares;
- Macquarie Group Ltd (MQG), -$0.22 (0.56%) to $39.16 on volume of 1.6 million shares; and
- CSL Ltd (CSL), -$0.08 (0.26%) to $30.69 on volume of 2.5 million shares.
The ASX Small Ordinaries (XSO) The small end of the market performed broadly in line with its large-cap counterpart. The Small Ords advanced by under a percent, adding 10 points (0.46%), closing out the session at 2205.5 points.
Among the stocks that make up the Small Caps index, 105 index components finished to the upside, and of the rest, 80 closed lower for the session.
The 214 stocks which make up the index traded a total of 731.05m units: volume in the 105 gainers totalling 522.31m shares, with trade totalling 134.67m units in the index's 80 declining components. The major percentage gainers within the index were- Moly Mines (MOL), +$0.10 (25.32%) to $0.50 on volume of 1.9 million shares;
- HFA Holdings (HFA), +$0.03 (18.18%) to $0.20 on volume of 8.4 million shares;
- Flinders Mines (FMS), +$0.01 (13.79%) to $0.07 on volume of 86.3 million shares;
- Lynas Corporation (LYC), +$0.07 (12.62%) to $0.58 on volume of 16.7 million shares; and
- Citigold Corp Ltd (CTO), +$0.02 (10.53%) to $0.21 on volume of 9 million shares.
In the red-zone of the little-stock index, the following list represents the biggest downers (in terms of percentage decline):
- Australian Infrastructure Grp (AIX), -$0.12 (6.76%) to $1.66 on volume of 2.4 million shares;
- Babcock & Brown Japan Property Trust (BJT), -$0.03 (6.41%) to $0.37 on volume of 3.5 million shares;
- Skilled Group (SKE), -$0.1 (6.33%) to $1.41 on volume of 108.9 thousand shares;
- Charter Hall Group (CHC), -$0.04 (6.31%) to $0.52 on volume of 4.3 million shares; and
- Sundance Resources (SDL), -$0.01 (5.71%) to $0.17 on volume of 25 million shares.
Index Changes
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XAO | All Ordinaries | 4061.5 | 14.8 | 0.37 | 1867.2m |
| XFL | ASX 50 | 4073.5 | 15.1 | 0.37 | 566.3m |
| XJO | ASX 200 | 4062.2 | 15 | 0.37 | 1553m |
| XKO | ASX 300 | 4059.1 | 16.4 | 0.41 | 1791.1m |
| XMD | ASX Mid-Cap 50 | 3649.3 | 12.1 | 0.33 | 527.5m |
| XSO | ASX Small Ordinaries | 2205.5 | 10 | 0.46 | 697.3m |
| XTL | ASX 20 | 2446.1 | 12.8 | 0.53 | 201.2m |
| XTO | ASX 100 | 3321.6 | 12.2 | 0.37 | 1093.8m |
Market Breadth
| ASX20 | XTO | XJO | XAO | XSO | Market | |
|---|---|---|---|---|---|---|
| Advances | 14 | 56 | 102 | 231 | 105 | 606 |
| Declines | 5 | 44 | 91 | 179 | 80 | 482 |
| Advancing Volume | 182.7m | 853.3m | 1.08b | 1.29b | 522.3m | 1.65bn |
| Declining Volume | 23.3m | 290.1m | 404m | 437m | 134.7m | 717.1m |
GICS Industry Indices
Among the 11 industry indices, the outcome favoured the upside, but only just - the 6 advancing sectors just triumphed the 5 losing sectors.
The best performing index was Property Trusts (XPJ), which added 10.3 points (1.34%) to 777.4 points. The 21 stocks which make up the index traded a total of 451.58m units; 11 index components rose, with rising volume amounting to 302.77m shares, while the 7 decliners had volume traded totalling 73.06m units. The major percentage gainers within the index were
- Goodman Group (GMG), +$0.06 (13.92%) to $0.45 on volume of 115.3 million shares;
- Tishman Speyer Office Fund (TSO), +$0.03 (10%) to $0.28 on volume of 1.3 million shares;
- Valad Property Group (VPG), +$0.01 (9.09%) to $0.08 on volume of 33.1 million shares;
- Macquarie Countrywide Trust (MCW), +$0.03 (4.95%) to $0.53 on volume of 20.3 million shares; and
- Centro Retail (CER), +$0.01 (4.35%) to $0.12 on volume of 10.7 million shares.
Second in the index leadership stakes was Financials ex Property Trusts (XXJ), which gained 46.3 points (1.09%) to 4275.9 points. The 25 stocks which make up the index traded a total of 99m units; 14 index components rose, with rising volume amounting to 68.5m shares, while the 6 decliners had volume traded totalling 17.12m units. The major percentage gainers within the index were
- HFA Holdings (HFA), +$0.03 (18.18%) to $0.20 on volume of 8.4 million shares;
- Eircom Holdings (ERC), +$0.08 (6.98%) to $1.15 on volume of 546.5 thousand shares;
- Suncorp-Metway Ltd (SUN), +$0.24 (3.68%) to $6.76 on volume of 9.8 million shares;
- QBE Insurance Group Ltd (QBE), +$0.60 (3.17%) to $19.52 on volume of 7 million shares; and
- Perpetual (PPT), +$0.92 (3.15%) to $30.12 on volume of 205 thousand shares.
The bronze medal for today goes to Telecommunications (XTJ), which climbed 9.8 points (0.86%) to 1145.3 points. This index only contains 3 stocks; they traded a total of 89.04m units today. 2 index components rose, with rising volume amounting to 87.4m shares, while the sole declining stock traded 1.64m units. The major percentage gainers within the index were
- Telecom Corporation Of New Zealand Ltd (TEL), +$0.03 (1.49%) to $2.04 on volume of 2.7 million shares; and
- Telstra Corp Ltd (TLS), +$0.03 (0.91%) to $3.33 on volume of 84.7 million shares.
The worst-performed index for the session was Consumer Discretionary (XDJ), which dipped 14.8 points (1.11%) to 1315.3 points. The 24 stocks which make up the index traded a total of 67.11m units; The 18 decliners had volume traded totalling 53.24m units, and 3 index components rose, with rising volume amounting to 6.21m shares, The major percentage decliners within the index were
- David Jones Ltd (DJS), -$0.15 (3.48%) to $4.16 on volume of 3.2 million shares;
- Aristocrat Leisure Ltd (ALL), -$0.12 (3.02%) to $3.85 on volume of 4.6 million shares;
- Billabong Intl Ltd (BBG), -$0.23 (2.58%) to $8.70 on volume of 2 million shares;
- Pacific Brands Ltd (PBG), -$0.02 (2.27%) to $0.86 on volume of 8.5 million shares; and
- Crown (CWN), -$0.16 (2.11%) to $7.44 on volume of 3 million shares.
Just missing out on the wooden spoon was Healthcare (XHJ), which slid 17 points (0.22%) to 7826.7 points. The 10 stocks which make up the index traded a total of 12.85m units; The 6 decliners had volume traded totalling 10.14m units, and 4 index components rose, with rising volume amounting to 2.71m shares, The major percentage decliners within the index were
- Sigma Pharmaceuticals (SIP), -$0.06 (5.05%) to $1.04 on volume of 3.3 million shares;
- Cochlear Ltd (COH), -$0.82 (1.43%) to $56.43 on volume of 459.2 thousand shares;
- ISOFT Group Ltd (ISF), -$0.01 (1.42%) to $0.70 on volume of 1.4 million shares;
- Healthscope Ltd (HSP), -$0.03 (0.74%) to $4.02 on volume of 685.8 thousand shares; and
- Primary Health Care Ltd (PRY), -$0.04 (0.73%) to $5.45 on volume of 1.9 million shares.
Third-to-last amongst the sector indices was Energy (XEJ), which slid 33.3 points (0.22%) to 15230 points. The 22 stocks which make up the index traded a total of 113.2m units; The 8 decliners had volume traded totalling 36.07m units, and 14 index components rose, with rising volume amounting to 77.13m shares, The major percentage decliners within the index were
- ROC Oil Co Ltd (ROC), -$0.04 (3.85%) to $0.88 on volume of 14.1 million shares;
- Gloucester Coal (GCL), -$0.23 (3.3%) to $6.74 on volume of 327.6 thousand shares;
- Santos Ltd (STO), -$0.45 (2.91%) to $14.99 on volume of 10 million shares;
- Karoon Gas Australia (KAR), -$0.19 (2.57%) to $7.21 on volume of 678.7 thousand shares; and
- OIL Search Ltd (OSH), -$0.13 (2.13%) to $5.97 on volume of 5.6 million shares.
Sector Indices
| Code | GICS Sector | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XPJ | Property Trusts | 777.4 | 10.3 | 1.34 | 452m |
| XXJ | Financials ex Property Trusts | 4275.9 | 46.3 | 1.09 | 99m |
| XTJ | Telecommunications | 1145.3 | 9.8 | 0.86 | 89m |
| XNJ | Industrials | 3104 | 20 | 0.65 | 242m |
| XIJ | Information Technology | 511.5 | 2.7 | 0.53 | 2m |
| XSJ | Consumer Staples | 6627.5 | 13.5 | 0.2 | 40m |
| XUJ | Utilities | 4138 | -2.4 | -0.06 | 44m |
| XMJ | Materials | 11129.6 | -14.1 | -0.13 | 439m |
| XHJ | Healthcare | 7826.7 | -17 | -0.22 | 13m |
| XEJ | Energy | 15230 | -33.3 | -0.22 | 113m |
| XDJ | Consumer Discretionary | 1315.3 | -14.8 | -1.11 | 67m |
All Ordinaries Major Movers
All Ords Volume Leaders
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| BLY | Boart Longyear | 0.28 | 0.05 | 19.15 | 127.4m |
| OZL | OZ Minerals | 1.05 | 0.16 | 17.42 | 118.7m |
| GMG | Goodman Group | 0.45 | 0.06 | 13.92 | 115.3m |
| FMS | Flinders Mines | 0.07 | 0.01 | 13.79 | 86.3m |
| TLS | Telstra Corp Ltd | 3.33 | 0.03 | 0.91 | 84.7m |
All Ords Percentage Gainers
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| MOL | Moly Mines | 0.50 | 0.10 | 25.32 | 1.9m |
| BLY | Boart Longyear | 0.28 | 0.05 | 19.15 | 127.4m |
| HFA | HFA Holdings | 0.20 | 0.03 | 18.18 | 8.4m |
| OZL | OZ Minerals | 1.05 | 0.16 | 17.42 | 118.7m |
| GMG | Goodman Group | 0.45 | 0.06 | 13.92 | 115.3m |
All Ords Percentage Losers
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| CMV | CMA Corporation | 0.10 | -0.02 | -16.67 | 3.4m |
| SHV | Select Harvests Ltd | 2.43 | -0.37 | -13.21 | 156.7k |
| RHI | RED Hill Iron | 2.60 | -0.30 | -10.34 | 55.9k |
| ARH | Australasian Resources | 0.63 | -0.06 | -8.76 | 220.5k |
| CTY | Country Road Ltd | 3.10 | -0.25 | -7.46 | 1k |
