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!