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.
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.
posted by visherer at
2:14 AM
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