April 16, Monday, 2007

Overnight gains in metals prices propelled the All Ords 59.8 points up to close at a record 6183.6 points.

BHP Billiton, the world's largest miner, pushed 54c to $30.39, rival Rio Tinto added $1.65 to $83.85, Oxiana surged 11c to $3.16, Zinifex firmed 6c to to $15.67.

Other highlights included commercial blaster Orica, which jumped 41c to a new record close of $27.40, Woolworths rallied 82c to $29.08 on speculation that it will join the KKR consortium to bid for Coles.

My trading day:

I'm on my new computer so I don't have graphs avaliable, but anyway:

Origin: Like I said - I bought the stock as it broke past resistance at $9, with a stop at $8.78. The stock rallied to $9.25 - I foolishly set a sell order at $9.25 and forgot to cancel it.. none the less i'm going to look for Origin to respect support at $9, or break through $9.25 on strength - my current thinking is that the share will rally to $9.75.

Stocks in my watchlist seem to be getting pretty expensive - most of them are rallying to their highs or breaking through them, so i'm just targetting stocks that are approaching their all time highs (like BHP/Origin).

Aprin 12, 2007, Thursday

The All Ords defied a weak lead from Wall Street, inching up 6.7 points to 6142.8.

Resources were mixed with BHP Billiton, the world's biggest miner, shedding 37c to $30.23, rival Rio Tinto added 27c to $83.77, uranium miner Summit Resources surged 20c to $6.00 after Paladin raised its takeover offer to A$1.18 billion.

The Energy Sector strengthened following a gain in oil prices, Santos rose 34c to $10.64, Origin gained 21c to $9.08, Woodside firmed 27c to $39.15.

My Trading Day:

Well my eyes went on Origin as it broke past resistance @ $9 quite strongly, it went as high as $9.17 but then eased..

As you can see on the chart it broke that ascending triangle which is a pretty good sign, I bought the shrae @ $9.02, I don't want to be too tight with my stop so I put it at $8.78. If the charting is correct - with the line measured - the stock may go up to $9.75 which will be a good ride!

I'm not really convinced with today's stockmarket performance, i'm expecting a harder drop in the short term - seeing as we haven't been in the red for a while.

Rio Tinto is really firing as well, it looks like fund managers like swapping their money around from BHP & Rio to pump both their prices up lol.

April 10, Tuesday, 2007

Another stellar rally drove the All Ords up 75.10 points to 6139.10, a new record. Surging metal prices, a takeover bid rise by Cemex for Rinker, and less woes in the US economies helped.

BHP Billiton, the world's biggest miner, gave a lackluster performance, up 15c to $30.48 after it's proposal to build an LNG terminal in California was thwarted by the States Land Commission. Rival Rio Tinto seared up $1.45 to $81.78.

Oxiana continued a good run, up 6c to $3.19, Zinc prices surged to their daily limit of 6.5% - Zinifex was up 38c to $16.09.

Other highlights include Macquarie Bank, surging $2.51 to $87.01 and stealing the show from CSL to become the first $100 share, CSL steadied up 9c to $85.99, Perpetual advanced $1.55 to $81.70.

My trading day:

Its holidays so I was hoping to test some more trading strategies out - ofcourse I wasn't going to change how i'd play Origin because its working perfectly. Oil slumped 4% but then advanced, oil stocks seemed to 'meh' it and either advance or remain steady.


I kept trying to buy Origin Energy $8.78 but CMC Markets went el retardo on me today and their trading platform fucked up, costing me money really - coz I wanted to buy Origin - which went up to $8.92 from the price I wanted to buy. So I gave them a piece of my mind through a telephone call anyway.


Dissapointed with BHP's performance but I spse its a good thing that the LNG terminal in California isn't built if its gonna majorly impact the environment, hope BHP's share price isnt too deterred anyway - maybe they can focus on more exploration with that LNG money!

April 05, 2007, Thursday

The All Ords took a pre-Easter breather, shedding 15.6 points to 6063.4

BHP Billiton, the worlds largest mining company, down 31c to $30.33, rival Rio Tinto shed 66c to $80.33, Zinifex defied the trend by sprouting 35c to $15.71 on the back of Zinc gains on the London Metal Exchange, Oxiana continued its charge, up 10c to $3.13.

Other highlights included West Australian Newspapers, which got hit $1.10 to $15.90, biotech company CSL added 41c to close at a record high of $85.90, the stock leads the charge of Macquarie Bank, Perpetual Limited, and Rio Tinto to become the first stock to reach the $100 level.

Oil was marginally weaker on easing Middle East tensions, Origin slipped 11c to $8.74, however, Woodside Petroleum climbed 26c to $39.04.

My trading day:

Well I didn't trade today simple because I was too busy!

I probably wouldn't have made any moves anyway considering the market has gone up so much this week.. and I thought it would surge even more as Copper/Zinc/Nickel/Lead did well on the LME.

As I mentioned - I really think Oxiana is undervalued, and its starting to show sings of activity.. if it can hold above $3.00 it seriously is a tempting buy, but I think waiting around for it to "respect support" might be an utter waste of time, considering how much this share has consolidated and its 800% increase in profit this year, it could just surge to its all time high in no-time.

I'm happy to take a punt in Oxiana and buy it where it is and put a stop under support the strong support area of $2.75.


Have a happy easter! I'll come out with a video in the weekend!

April 04, 2007, Wednesday

The All Ords pierced its all time high, closing up 81.4 points to 6079.

Wall St. flagged the advance with the Dow Jones jumping 128 points to 12,510, commodities also surged with copper reaching five month highs, and takeover speculation added more frenzy.

BHP Billiton, the world's biggest miner, added 55c to $30.64, rival Rio Tinto strengthened $2.09 to $80.99, Zinifex recovered 30c to $15.36, Oxiana flared by 21c to $3.03.

Easing tensions between Britain and Iran saw oil ease. Woodside Petroleum lost 47c to $38.68, Origin Energy shed 3c to $8.85.

Other highlights included biotech company CSL, which impressed again with $1.99 to $85.49, Coles Group surged 75c to $16.86 after the Wesfarmers bid, Wesfarmers rocketed $1.69 to $38.60.

My trading day:

Well this is great! The 2 days I decide not to play (and I couldn't anyway because of exams) the market surges almsot 3%! Lucky i'm still holding BHP.. all my positions in it are now gaining! Zinifex is still looking bouncy, i'm hoping it either just surges from here or forms a base at a low of $15.00.. looking @ LME Zinc atm it broke resistance past $1.50 which is a good sign!

Oh and what did I say about Oxiana? It SURGED past $2.80, $2.90, $3, I really have a feeling this stock is very undervalued and going to skyrocket sometime soon, i'm only going to watch it though because if I add Oxiana.. my portfolio will be pretty overweight on commodities.

April 03, 2007, Tuesday

The market rallied strongly after a modest Dow lead and a $20bn bid talk for Coles by Wesfarmers and Texan firm Pacific Equity Partners, the All Ords finished 89.40 points up to 5997.60, a whisker off the all-time highs.

BHP Billiton, the world's biggest miner, charged 74c to $30.09, rival Rio Tinto added $1.70 to $78.90, oiler Woodside added 55c to $39.25. Zinifex stayed out of the party today, sobering 26c to $15.06. Zinifex announced a merger smelter yesterday with Belgian giant Umicore to create the world's largest Zinc producer, shares of Umicore finished at $175.00 in US trading.

Financial heavyweight Perpetual surged $3.40 to $79.40, biotech company CSL pounced $2.15 to $83.50, commercial blaster Orica shot up $1.00 to $26.46.

The relaxed media laws take effect tomorrow, West Australian Newspapers readied by advancing 45c to $15.97, whist Fairfax, the topic pick in the likely companies to be taken over, rallied 14c to $5.14.

My trading day:

Like I said I was planning to make no moves because I didn't know how the market would act to the interest thingo tomorrow.. I was thinking that the market would weaken in the afternoon as investors take out money and move it into bonds or something but no!

I was trial trading Orica last week and I bought into it a couple of days ago as it broke past $25.. a zone it seems to just shoot up 60 or so cents from, well it surged $1.00 today and I was pretty happy!

I wish I bought Perpetual/CSL/BHP yesterday but I steadied my hand because like I said: it's an unpredictable environment really!

BHP broke past $30 today on some good strength, if it can hold this level i'm going to buy more.

March the 2nd, 2007, Monday

All Ords retreats after inflation survey

The All Ords dropped 70.60 points to 5908.20 after a survey revealed that the rate of inflation rose on climbing petrol and transport prices.

Almost all sectors were hit hard with exception to the media sector, which shielded some of the damage on optimism about takeover activity. Fairfax climbed 2c to $5.00, West Australian Newspapers lightened 11c to $15.52.

Among the miners BHP Billiton tumbled 54c to $29.25, rival Rio Tinto dropped $1.61 to $77.20, Zinifex slid 46c to $15.32. Nickel miner LionOre, which received a US$4bn offer from Swiss giant Xstrata, advanced 5c to $20.40 on speculation that BHP may rival the bid.

My trading session:

Did nothing today.. I wanted to short Origin because of falling oil prices and the inflation data which scared everyone but I didn't get a chance to as I was doing exams in college, oh well!

I'm gonna wait and see if the RBA raises rates or not before I make my next move, i'm expecting big volatility in the market till after the rate rise, and then some!