daytrade diaries... september 8 part 2

Half-time round-up:

Local stocks are within reach of a new 2009 closing high after business confidence hit a six-year high this morning.

At lunchtime the ASX 200 was up 53 points or 1.2% at 4508, just shy of this year's record close of 4514. Investors continued to pile into gold shares, sending the local sector 2.4% higher this morning. Also strongly ahead: mining up 1.8% and financials up 1.6%.

The National Australia Bank's monthly business survey released this morning showed business confidence rose 8 points in August to 18 - the highest level since October 2003.

Asian markets were mixed after outperforming Australia yesterday. The Nikkei slipped 0.04%, Shanghai was up 0.13% and Hong Kong gained 0.71%. Dow futures gave back some early gains but were recently a healthy +46. The spot gold price charged up to the $998 mark this morning but has since eased to $996. Crude oil futures advanced to $68.30.

A frustrating morning here, thanks to software issues. Just one new trade - a miserly scalp on ESI. Also sold last of MFI - glad to be out because it has been slower than a wet weekend in Wales.

Potential overnight holds: ARU, ALK on breakout. Perhaps MEO if it holds these levels. PIO looks poised for another run at the old high (I hold).