daytrade diaries... december 1 part 2, page-8

Thanks HLL & Pj

The Australian share market was marginally in the black at noon after a positive US lead, and amid expectations that the Reserve Bank of Australia (RBA) will raise official interests rates for the third consecutive month.

The RBA will announced its decision at 1430 AEDT after its December board meeting. A third consecutive rise would be unprecedented. The ABS reports that building approvals fell 0.6% in October from the month before.

All Ordinaries index had gained 7.3 points, or 0.15 per cent, to 4,722.8.

Analyst said “Trading had been choppy ahead of the RBA decision. Australia's political dramas had had no impact on the market. Our market is quite immune to the whole thing. The only thing we worried about was how much it would affect the international debt market and whether it would result in another credit freeze, like we saw on Wall Street in October last year”.

Majority of sectors are in the black at midday, however the sector with the biggest gain is the Telco Services index up 18 points to 1,182.

The only sector in the red at midday is the Real Estate Investment Trust index, down 8 points to 872.

Gold is trading at US$1,180.25 an ounce and the Aussie dollar is trading at 91.6 US cents.

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

Once you've settled on a direction, you then need to determine what kind of trade this is for you?

Long term, medium or short term?
How big a position do you want to take?