daytrade diaries... november 30 part 2, page-2

Thanks HLL

The Australian share market has rebounded from Friday's losses and was firmly in the black at noon, driven by gains in banking and resources stocks, amid expectations Dubai's debt woes will be contained.

All Ordinaries index had risen 101.5 points, or 2.21 per cent, to 4,698.7 points.

Some analysts are saying "It's very encouraging that we've seen the market rebound as we expected it would. There are hopes Dubai's debt problems will be contained. All our major banks have come out saying they have no exposure, so they are certainly leading the rebound today."

The TD Securities - Melbourne Institute’s monthly inflation gauge rose 0.3% in November to an annual pace of 2.1%.

The ABS says business inventories in the third quarter rose 0.8%, company profits fell 2.1% for the quarter.

And the RBA reports that Australian private sector credit remained unchanged in October.

Private sector figures show a renewed jump in Australian house prices, even as sales of new dwellings eased. The Housing Industry Association says the number of new home sales fell for the second month in a row in October, with a 6 per cent decline. The HIA says the combination of higher interest rates and fewer first home buyers in the market has affected sales.

Majority of sectors are in the black at midday, however the sector with the biggest gain is the Financials Excluding Real Estate Investment Trust index up 189 points to 5,372.
One of the sectors with the sectors with the smallest gain at midday is the Consumer Discretionary index, up 15 points to 1,582.

Gold is trading at US$1,174.20 an ounce and the Aussie dollar is trading at 91.52 US cents.

MEL: Picked up at .605c
EWC: Still holding from .39c
PPT: Sold at $31.99
MEO: Friday’s parcel sold at .435c

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

You should be asking before entering any position.

Are the moving averages confirming your view?
Do the stochastic, RSI or other indicators show overbought or oversold levels?
Is the stock approaching a market 'top' or 'bottom'?