daytrades march 24 afternoon, page-2

Thanks HLL

Australian shares have continued to climb on positive leads from Wall Street, with the major miners BHP and Rio Tinto pulling the market higher at midday.

All Ordinaries index was up 30 points, or 0.63 per cent, at 4,918.

Analyst said Positive international news and a stronger resources sector were driving the market at around noon. There's a lot of green everywhere with the Greek situation being dealt with and the American economy doing OK,"

In economic news: The national employment departments index of skilled jobs vacancies rose 2.4% in March to a read of 46.7 points 11.8% higher than a year earlier.

Wheat exporter AWB Ltd (AWB) has downgraded its forecast returns for two key grain pools as higher wheat stocks put pressure on global prices. The Australian Financial Review reports that the company has cut the expected return from its eastern grain pool by $8 to $246 per tonne almost half the record $429 per tonne delivered to growers for the 2007-2008 season. The company is blaming the lower expected return on weaker global grain prices, a higher Australian dollar and rising freight costs. Shares in AWB are down 0.54% at $0.925.

Oklo Uranium Ltd (OKU) will acquire a 70% stake in a uranium project in the African nation of Namibia in a deal worth $20 million. Under the agreement, the resources company will acquire the interest via a cash and share transaction from Africa Uranium Ltd, in which fellow explorer Cape Lambert Resources holds an interest. Following the transaction, Cape Lambert will emerge as a major shareholder of Oklo. The acquisition is to be made up of 309 million Oklo shares, valued at $17 million, and $3 million cash. Oklo will undertake a capital raising for the outstanding cash portion of the deal.

The Hoasib Uranium Project in Namibia is located near the Langer Heinrich Uranium Mine owned by Paladin Resources Ltd. Oklo will undertake an exploration and drilling program with the aim of identifying a major new uranium resource. The deal is subject to approval by Oklos shareholders. Oklo Uranium posted a loss of $3.54 million in fiscal 2009.

The best performing sector at midday is the Healthcare index, up 113 points at 8,993.

The worst performing sector is the Industrials index, down 34 points to 3,943.

Gold is trading at US$1,103.75 an ounce and the Aussie dollar is trading at 91.87 US cents.

QUICK TRADES

NWH: Got in $1.70 and sold at $1.735
OKU: Bought .072c and sold .10c
MSC: Overnight hold .031c and sold this morning at .038c
ANP: watching for now, Some dumping yet again but buyers keep coming back.
CXS: .455c/.48c

CXS: RBS Australia rates CXS as Downgrade to Hold from Buy
Target $0.45 (was $1.51). The broker notes the Oncology Drug Advisory Committee has questioned the validity and reliability of the tests the company used in testing Omapro, which means no approval for Omapro is likely in the short-term. This sees the broker factor in some delays into its model and the cuts to its forecasts mean a reduction in price target. Until there is greater clarity with respect to the outlook the broker has downgraded to a Hold rating. Target price is $0.45 Current Price is $0.44 Difference: $0.01

If CXS meets the RBS Australia target it will return approximately 2% (excluding dividends, fees and charges). The company's fiscal year ends in June. RBS Australia forecasts a full year FY10 dividend of 0.00 cents and EPS of -3.90 cents.

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

Here's the most dangerous habits to have as a trader or investor. If you rely on any of them, please be aware that share trading or investing probably won't work:

Getting advice from those who may not be qualified to give it.

Buying a stock when it's trending down. Stocks are usually down in price for a reason.