daytrade diaries... november 18 part 2, page-4

The Australian stock market was stronger at noon on gains in the materials sector.

All Ordinaries had risen 27 points, or 0.58 per cent, to 4,777.

Some analysts are saying "Consumer staples and financial servers also are bouncing back from some of the losses we saw yesterday. The strong consensus across the market is that materials are going to pretty much lead the market into Christmas, which is what we've been seeing lately”.

Coal miner Macarthur Coal Ltd (MCC) has forecast profit for the first half of the 2010 financial year to be in the range of $30 million to $38 million. This is significantly lower than the $106.9 million reported in the first half of the 2009 financial year. The company says the downgrade is due to significantly lower Japanese Financial Year US dollar sale prices and higher Australian dollar/US dollar foreign exchange and hedging rate. Macarthur Coal shares lost 4.52 per cent to $9.72.

All sectors are in positive territory at midday, however the sector with the biggest gain is the Materials index, up 185 points to 12,352.

The sector with the smallest gain at midday is the Industrials index, up 10 points to 3,893.

Gold is trading at US$1,141.40 an ounce and the Aussie dollar is trading at 93.02 US cents.

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

The Most dangerous habits to have as a trader or investor.
Vacillating and not being able to make up your mind as to when to buy, sell, or hold a stock. This is a sign of having no plan and without a plan you’re swimming against the tide.