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).