daytrade diaries... february 4 part 2, page-2

Thank you hll. Just to let you guys know, I will be away for holiday and be back on 15 feb.

Aussie stocks are lower at midday following a negative lead from Wall St overnight with weaker commodities weighing on resource stocks like the major miners BHP and Rio Tinto and a fall in retail sales in December dragging on retail stocks.

All Ordinaries index had fallen 40.5 points, or 0.87 per cent, to 4,632.7.

Analyst said "We seem to be almost equating the US point for point on the downside... and again it's on pretty light volume. There is largely an absence of disappointing data. It's almost all uniformly encouraging, which gives me the impression the low volume is a reaction to the rally we have had."

According to the ABS building approvals rose 2.2% in December. The bureau also released data showing a 0.7% fall in retail sales also for the month of December.

Designer and manufacturer of motor vehicle accessories ARB Corporation Ltd (ARP) says based on unaudited management accounts, sales revenue rose 15.5% for the half year with net profit before tax expected to come in around $21 million. For the same period last year the company reported net profit before tax of $10.48 million. The company says the main reason for the profit increase is the favourable impact of the Federal Governments investment allowance incentives on ARBs businesses in Australia. ARB shares rose 3.2% to $5.16.

Asciano Group (AIO) says it has executed a long-term, take or pay contract with coal miner Macarthur Coal Ltd (MCC) for the movement of 7 million tonnes of coal per annum from the Coppabella and Moorvale mines in Queensland, staring from the 1st of November 2010. Asciano posted a loss of $246.44 million for the 2009 financial year, and Macarthur Coal earned $168.56 million in the 12 months to June 30, 2009.

The best performing sector at midday is the Telco Services index up 13 points at 1,162.

The worst performing sector at midday is the Materials index, down 206 to 11,969.

Gold is trading at US$1,107.85 an ounce and the Aussie dollar is trading at 88.01 US cents.

KAR: Bought open and sold at $4.99,again in at $4.88 and sold $5.10(as a usual early exit)
Watching BML


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