{"id":61673,"date":"2013-04-16T19:09:29","date_gmt":"2013-04-16T09:09:29","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2013\/04\/16\/australian-stocks-what-happened-today-78\/"},"modified":"2013-04-16T19:09:29","modified_gmt":"2013-04-16T09:09:29","slug":"australian-stocks-what-happened-today-78","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2013\/04\/16\/australian-stocks-what-happened-today-78\/","title":{"rendered":"Australian Stocks: What Happened Today?"},"content":{"rendered":"

\n\tBy Ashley Jessen<\/span>, director of LearnCFDs.com and author of CFDs<\/span> Made Simple<\/a><\/p>\n

\n\tBoston’s sickening bomb blast sparked minor panic in the markets, fearing follow up attacks, but fortunately no further heartless incidents have occurred, allowing our local market to rebound plus US and European futures markets are showing positive gains. Locally the S&P\/ASX<\/span> 200 fell 17.1 points or 0.3% to close at 4950 after spending the early part of the session a further 47 points lower.<\/p>\n

\n\tGold and Silver fell 10% and 13% respectively after Cyprus announced they are considering selling around $500 million worth with the futures markets increasing margin across the precious metals, resulting in near capitulation as leveraged longs decided to clear their positions quickly. Locally the RBA<\/span> noted that conditions appear to be improving but have left the door open for future interest rate cuts.<\/p>\n

\n\tTelecommunications stocks have outperformed the overall market for the second straight day, rising 0.87% with Health Care bouncing quite nicely, up a steady 0.25%. Oil & Gas and Basic Materials sectors continued being punished by investors with both sectors down significantly, 1.82% and 1.33% respectively.<\/p>\n

\n\tLooking over the charts<\/strong><\/p>\n

\n\t\"\"<\/strong><\/p>\n

\n\tVolatility is every trader’s open door to bigger wins and potentially bigger losses and over the last 30 days, volatility has risen a handy 24%, allowing short term traders to make the most of their short term trading systems. Yesterday’s bearish stochastic cross played out nicely with the market hitting recent support levels, bouncing and providing a neutral inside day. Traders will be watching both the high and low value of today’s candle, looking for potential break either side with the bias being on the long side.<\/p>\n

\n\tS&P\/ASX<\/span> 200 Gainers and Losers<\/strong><\/p>\n

\n\tResolute Mining ((RSG<\/span>)) was one of the few bright spots in the market today after a 5.26% rebound but investors won’t be rubbing their hands together just yet as the rebound follows on from a significant gap down yesterday, with more work to do to fill the gap. Charter Hall Group ((CHC<\/span>)), whilst only rising a modest 3.54%, managed a picture perfect ascending triangle breakout into new blue sky territory, breaching the $4.10 level for the first time since mid 2008.<\/p>\n

\n\tEvolution Mining ((EVN<\/span>)) gapped significantly lower, falling 18.11% on over triple the average volume, bringing losses over the last 2 weeks to 50%. Boart<\/span> Longyear<\/span> ((BLY<\/span>)) has continued its recent poor form, falling a further 12.67% and breaking all levels of support, to hit the lowest level since May 2009 with volume over 4 times greater than average.<\/p>\n

\n\t(For a more comprehensive summary of last night’s market action see FNArena’s<\/span><\/a> Overnight Report.)<\/p>\n

\n\tDisclaimer<\/em>: <\/strong>There is a high degree of risk involved in trading various financial instruments. It is possible to lose significant amounts of money when trading the markets. As your trading decisions are beyond my control, I accept no responsibility for your trading results. Please seek professional financial advice to determine if trading is for you.<\/em><\/p>\n

\n\tWhile Ashley Jessen<\/span> attempts to ensure that the information herein is accurate at the date the information was produced, however, Ashley Jessen<\/span> does not guarantee the accuracy, timeliness, completeness, performance or fitness for a particular purpose of any of the information provided herein and under no circumstances are they to be considered an offer, solicitation to invest or be construed as giving investment advice.<\/em><\/p>\n

\n\tTechnical limitations<\/strong><\/em><\/p>\n

\n\tIf you are reading this story through a third party distribution channel and you cannot see charts included<\/span>, we apologise<\/span>, but technical limitations are to blame.<\/strong><\/p>\n

\n\tFind out why FNArena<\/span> subscribers like the service so much: "Your Feedback (Thank You)<\/a>" – Warning this story contains unashamedly positive feedback on the service provided.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

A wrap of the day’s activity on the Australian stock market.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/61673"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=61673"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/61673\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=61673"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=61673"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=61673"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}