daytrades march 9 afternoon, page-2

Thanks HLL

The Australian stock market was relatively flat at noon on Tuesday in the absence of major leads.

All Ordinaries index had lifted 1.3 points, or 0.03 per cent, to 4,820.9 points.

In economic news, a survey of business expectations has revealed sales and profit forecasts for the June quarter are at their highest in six years, indicating the worst of the global financial crisis is over. The Dun & Bradstreet survey shows sales expectations have risen 5 index points to a read of 33, while profit predictions for the three months to June 30, 2010, increased by 8 points to a read of 18.

Analyst said ?The market seemed to be taking a breather on Tuesday, with most of the gains in the health care sector and losses elsewhere. In this environment post-reporting season, and given that most of the leading economic indicators have pointed to more of the same... when there's little by the way of direction or lead, the market takes it easy,"

Oil and gas junior Mosaic Oil NL (MOS) has posted a loss for the first half of the 2010 financial year on the back of exploration write-downs. Looking ahead, the company says it plans to focus on development drilling in the Surat-Bowen Basin to boost revenue and profits in the second half and beyond. CEO Alex Parks says the company delivered higher overall production and sales of natural gas in the first half but lower oil revenue compared to the two previous half years. Mr Parks says the company still has significant quantities of oil and gas that are yet to be appraised and developed in the Surat-Bowen Basin. In the 12 months to June 30, 2009, Mosaic Oil posted a profit of $2.61 million.

Surfwear retailer Billabong Ltd (BBG) says it is the subject of a $53 million civil compensation claim by its former Indonesian licensee. A claim requesting compensation and US$100 million in damages arising out of Billabong?s termination of its license agreement with CV Bali Balance has been lodged with the Denpasar District Court in Indonesia. Billabong terminated the licence in 2005 relying on a right of termination in the agreement. The company has been conducting its business in Indonesia directly through its wholly owned subsidiary, PT Billabong Indonesia since the termination. Billabong says there is no basis for the claim and doubts it will have an adverse impact on its operations outside Indonesia or on the revenue, profitability or financial condition of the group as a whole. Shares in Billabong are 0.75% higher at $10.74.

The best performing sector at midday is the Health Care index, up 70 points at 8,852.

The worst performing sector at noon is the Materials index, down 82 points to 12,600.

Gold is trading at US$1,124 an ounce and the Aussie dollar is trading at 90.99 US cents.

QUICK TRADES
ALT:.08c/.089c and .099c/.105c

After a major announcement out 9 out of 10 times the stock will retrace below your buy in price. Remember to take a profit and not a loss. You will never pick the high or the low but a profit is a far greater feeling of joy than watching your losses mount.


http://www.marketwatch.com/
http://www.thebull.com.au/
http://www.news.com.au/business/