monday trading

I think Craig James got it wrong on base metals as they got hit again on Friday night apart from oil and gold.


Aussie stock market to open lower
May 11, 2008 - 4:16PM

The Australian stock market is tipped to open slightly lower on Monday following a weak lead from Wall Street, with caution the order of the day ahead of Tuesday's federal budget.

CommSec's chief equities economist Craig James predicts a 10- to 20-point fall in the stock market on Monday, but he says the strength of commodity prices will buoy the market.

"Oil prices continue to rise, we've got continued strength in base metal prices and gold prices," he said.

"So, in terms of the overall market, I think it can remain relatively resilient on Monday despite the fact that the Dow Jones was lower."