daytrade diaries... november 19 part 2, page-3

Shrugging off a negative lead from Wall St overnight, the local share market is slightly higher at midday as stronger oil and metals prices boosted mining stocks and energy companies.

All Ordinaries had risen 3 points, or 0.05 per cent, to 4,762.

Some analysts are saying "It's mildly positive, the banks and resources have both gone ahead. Broadly speaking, there's been a modest advance considering Wall Street wasn't all that exciting. The markets are bouncing around. They've climbed up the cliff, had a look around and don't know whether to keep climbing or fall over backwards."

According to the Australian Bureau of Statistics the average weekly earnings for adults employed full-time in the three months to August rose 0.9% from the previous quarter, for an annual rate of 5.2%.

The best performing sector at midday is the Materials index, up 46 points to 12,224. Shares in Aquarius Platinum advanced 6.83% to $6.26. Shares in Newcrest Mining and Sims Metal Management are also higher.

The worst performing sector at midday is the Utilities index, down 31 points to 4,246. Shares in Hastings Diversified Utilities Fund fell 1.89% to $1.04. Shares in Energy Developments and AGL Energy are also lower at noon.
Gold is trading at US$1,142.35 an ounce and the Aussie dollar is trading at 92.64 US cents.

Engineering company Monadelphous Group Ltd (MND) has secured a $60 million facilities management services contract associated with the construction of the Gorgon Project on Barrow Island in Western Australia. The company says the initial contract is for three years with the option for two further one-year extensions.

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.
Putting price limits on buy-and-sell orders. Novice investors rarely place orders to buy or sell a share at the market price. This procedure is poor because the investor is quibbling for eighths and quarters of a point rather than getting out of stocks that should be sold to avoid substantial losses or buying into popular stocks.