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FoxTrader

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  1. hi  - also looking forward to Monday, LOTS of activity expected hey...saw this report early today, from Angus Nicholson, IG Melbourne... ASX The move in metals markets over the past few days has been welcomed by the battered materials sector. The pullback in the US dollar has also been a boost to energy and materials sectors. The good performance of European markets (US markets were closed for Thanksgiving) also helped set the ASXup for a strong start. Good buying for the banks helped the index throughout most the day, but poor data out of China and Japan and a further weakening of the CNY midpoint saw the ASX pull back alongside all the other major Asian markets. After almost touching 5260 at the open, the index proceeded to lose over 1% from that point. General market sentiment clearly moved down after developments in Asia. All the banks opened up on the day, but by the afternoon the whole financial sector was down 0.4% with all the top five banks in the red. The energy sector was the best performing, managing to still gain 1% despite selling across the index, with large caps Woodside and Origin seeing the best performance. Large cap diversified miners BHP and Rio Tinto both managed to find some respite as heavily sold metals prices saw a bit of a jump. Their huge market cap weighting managed to help keep the materials sector in the green, as it added 0.1%. Happy days
  2. hi  - yes, I like the " I don't recommend trading like that either - yet if you ever have to or want to, IG can." - well said. Thought I would share this from Angus Nicholson, IG Market Analyst in Melbourne... ASX The banks have helped drive the ASX back above 5200. ANZ ’s American Depositary Receipt (ADR) rose 1.26% overnight pointing to a decent session today on the ASX. Financials had a strong session rising 1%. But almost all sectors bar materials and energy were up on the day. BHP’s ADR was savaged overnight losing 3.5% despite no major moves in the commodities market. The stock broke into the A$18 handle as it lost 3.6%, its lowest level since 2009. Concerns over the viability of BHP’s credit rating and its progressive dividend policy seem to have been the drivers behind the drop. The materials sector as a whole lost 1.2%, with RIO and Fortescue also trading down on the day. While on the other end of the spectrum, the strong performing healthcare sector continued to see further gains as it rose 1.2%. Sector bellwether CSL touched A$100 for the first time since 6 August, seemingly signalling a full recovery for the healthcare sector after the August/September selloff. The big key for the ASX going forward will be whether the financials can break through their October highs. This will largely be the deciding factor as to whether the ASX itself can break through its October high around 5350. happy days mate
  3. hi Janner - go to "my account" tab and select "settings" from the options in the window that displays. The second heading under "settings" is "notifications" - if you click there it brings up your preferences, just "un tick" the boxes you don't want. When finished, remember to click the green "set preferences" box Happy days
  4. In South Africa, where mining is one of our primary concerns, the following is happening.... Impala Platinum [JSE:IMP], the world’s second-largest producer of the metal, plans to cut as many as 1 600 jobs at its Rustenburg operations as prices have fallen to six-year lows... Platinum producers in South Africa, which holds more than 70% of global reserves, are cutting staff, delaying capital expenditure and closing operations as prices plunged to levels near the lowest since 2009. Earnings were also hit by a five-month strike last year. Lonmin [JSE:LON], the third-largest producer, is planning as many as 6 000 job cuts, while Anglo American Platinum [JSE:AMS], the largest, said in June as many as 420 managerial and supervisory positions may be eliminated..... Atlatsa Resources Corporation plans to trim its workforce at the Bokoni mine in northern Limpopo province by 500, or 10% of all employees, spokespersorson Prudence Lebina said by phone on Thursday. Amplats is Atlatsa’s partner at Bokoni... Iron ore prices have fallen 19% this year and are 70% below a 2011 high of $191.70 a ton because of rising low-cost output and weaker growth in China, the biggest buyer. The price of coal at Richards Bay has declined 15% as the Asian nation, which is the largest user of the fuel, turns to cleaner alternatives.... Glencore [JSE:GLN], the worst performer on the UK’s benchmark stock index this year, sold $2.5bn of new shares to pay down debt to help protect its credit rating amid a rout in commodities prices. Glencore sold the stock at 125 pence a share, a 2.4% discount to the closing price on Tuesday, the Baar, Switzerland- based commodities trader and miner said in a statement. Chief executive officer Ivan Glasenbergpaid about $210m to buy shares in the sale in order to maintain his 8.4% stake, honouring a commitment that he and other senior managers representing 22% of the company wouldn’t dilute their holdings...
  5. I think the upside will prevail throughout the year ahead. There is no indication, fundemental or analytic, that proves the opposite - very lucrative market indeed, I would say....
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