daytrades april 14 afternoon, page-2

Thanks HLL

Rising resources and banking stocks have pushed the Australian share market higher at noon, with the broader index again pushing through the 5,000 point barrier.

All Ordinaries index had risen 25.1 points, or 0.5 per cent, at 5,003.5 points.

Analyst said "The resources sector has traded a bit better today and the banks and financials, which were solid yesterday, have remained on a steady path, as well. It is a bit of a psychological barrier. The market is probably likely to grind through this period and possibly be impacted by the recent trend of corporate activity."

In economic news: The Westpac/Melbourne Institute index of consumer sentiment fell 1% in April to a read of 116.1. The pressure on households from two straight interest rate rises a key factor behind the drop.

Zinc, lead and silver producer CBH Resources Ltd (CBH) major shareholder, Japans Toho Zinc, has rejected Russian based Nyrstars sweetened takeover offer for CBH. In a letter released to the ASX today, the Japanese company says Nyrstars revised offer of 19.5 cents per CBH share and $1000 cash per CBH convertible note, undervalues the mineral resource company. Toho itself has a bid on the table, offering to acquire all the shares in CBH it does not already own for 25 cents a share. Despite its rejection, Toho says it remains a committed CBH shareholder. CBH Resources shares are steady at $0.19.

Telstra Corporation Ltd (TLS) has responded to media speculation that it has brokered a deal with the federal government regarding the National Broadband Network, saying this rumour is unfounded. Media reports circulating today suggest that the telco has reached a deal with the Federal Government worth around $9 billion. Telstra has previously advised that negotiations are continuing and at this stage remain incomplete and confidential. The company says it will continue to keep investors and the market informed. In other news the telco has sold its Asian data business KAZ Singapore for an undisclosed sum to Connxion Ventures Ltd (CXN).
The transaction is subject to a number of final agreements and is expected to be completed next month. Telstras fiscal 09 profit was over $4 billion.

The best performing sector at midday is the Health Care index, up 90 points to 9,106.

The worst performing sector is the Telco Services index, down 6 points to 1,080.

Gold is trading at US$1,154.20 an ounce and the Aussie dollar is trading at 93.17 US cents.

MORNING TRADES

MEO: .435c/.445c
MOG:.17/.175c
LKO: This is good one for me .008(2) m shares/.009c out
ADY: .013c/.013c Broker fee lost
MEO: Q @ .415c to re enter

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

How to Avoid Major Loss in Day Trading

It is advisable for a day trader not to allocate more than 3-5% of his equity corpus in day trading. That way, even in a worst case scenario you would not be losing all. This in turn will give you a chance to bounce back and try again in case of any short-term set back.