daytrade diaries wednesday, page-2

Damn, those shrimps sound good.

But it will be bread and water at Highlandlad's humble croft unless he snares a few profitable trades. It has been thin fare so far this week.

A murky lead-in to the local trading day. Weak lead from Wall Street and resources mixed to lower. Futures suggest our market will open around 15 points lower from yesterday's close. US financials and REITs led their market south. Could be further weakness in those sectors here if the instos continue to sell out to raise cash for yesterday's capital raisings in WBC, MOF and to a lesser extent BSL.

I'm impressed by Wall Street's recent willingness to ignore grim news and rally. But that has to be balanced against the rush among companies to raise capital here. Analysts are predicting a few big names are likely to tap the markets soon and that may hamstring the XJO.

Top of my watchlist today are GPT, FXJ, TSE, OST and FMG.