30th March 2007, Friday

The All Ords was finished up 33.10 points to 5989.80 buyoed by a frenzied media sector after Communications Minister Helen Coonan introduced laws to relax media ownership earlier than expected.

Media stocks took center stage with Western Australian Newspapers leading the charge by 98c to $15.63, Fairfax surged 5.06% to $4.98, and Kerry Packer's Publishing and Broadcasting Limited jumped up 82c to $19.85.

Media stocks might attract possible merger and acquisition activity soon when the laws take effect next week.

BHP Billiton put on 7c to $29.89, rival Rio Tinto added 63c to $78.81, Fortescue Metals was punished by a $1.28 to $20.19.

Cochlear rose by $1.30 to $64.72, Babcock and Brown climbed $1.07 to $27.47 after being named as Alinta's preferred bidder, along with Singapore Power.

My trading day:

I was pretty happy today as I got that lovely 70c/share dividend from Zinifex!

I sold off Perpetual after it showed signs of weakness. I wanted to trade in Origin but it opened @ 8.95 and would be risky as it has a lot of trouble in the $9 zone, which it only went past at the close so I didn't bother.

So no trades today, just grabbed the dividend! I'll make a yotube video for next weeks trading soon!