daytrade diaries... june 3 part 2

Half-time round-up:

Local shares hit a new 2009 high as GDP figures confirmed that Australia has dodged the worst of the global downturn.

At lunchtime the ASX 200 was up 40 points or 1% at 3996 after the ABS announced that GDP for the March quarter grew 0.4%, thus avoiding a "technical recession" defined as two quarters of negative growth. Truly this is the lucky country.

Property trusts fronted sector gains, up 2.4%, followed by telecoms, up 2.1%. Asian markets strengthened, with the Nikkei ahead 0.36% and the Hang Seng up 2%. Dow futures were recently at -5. Gold has added nearly $3 from this morning to $984.40.

A quietish morning here. Profitable bounce trades in TAP and AMC. Small position taken in AZZ - looks ripe for a bounce after shedding more than a third of its value in two days.