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  • 2011 July | Online Stockmarket Trading Update

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    Original URL path: /2011/07/ (2013-02-02)


  • 2011 June | Online Stockmarket Trading Update
    a variety of indications and geographical segments www helicongroup com au http www traderdealer com au fundamentals hcg Tags acquisition Biotechnology HCG Helicon Group Posted in ASX Company News No Comments ASX Company News Downer Secures 50 million Rio Contract Thursday June 30th 2011 Downer EDI Limited DOW announced it had secured a contract for work at Rio Tinto Iron Ore s RIO Warramboo infrastructure project in Western Australia valued at more than 50 million The work involves earthworks concrete works road surfacing and bridge construction electrical and communication works as well as a diversion of the North West Highway near Warramboo which is located 165 kilometres south of Karratha The Chief Executive Officer of Downer Grant Fenn said this was a significant contract win for Downer being the first with Rio Tinto s Expansion Projects Group This project demonstrates Downer s ability to provide customers with comprehensive design and construct services for civil mine infrastructure including roads bridges buildings and utilities Mr Fenn said The project is scheduled for completion in April 2012 Downer EDI Limited provides comprehensive engineering and infrastructure management services to the public and private Minerals Metals Oil Gas Power Transport Infrastructure Communications Water and Property sectors across Australia New Zealand the Asia Pacific region and the United Kingdom www downergroup com http www traderdealer com au fundamentals dow Tags Construction Services Dow Downer EDI Mining Services Rio Tinto RIO Posted in ASX Company News No Comments Stock Market Analysis Investors Pre empt Resolution Of Greek Debt Crisis Wednesday June 29th 2011 U S stock markets closed sharply higher ovenight breaking a 3 day losing streak Stocks in the technology consumer discretionary and financial sectors all surged higher European stock markets rose overnight as a resolution to the Greek debt problems draws near Asian markets generally rose as investors looked for bargains Commodities prices traded higher Gold and crude oil bounced off key levels The SPI Futures is trading below the key pivot level of 4600 ending up 1 2 or 52 points at 4 522 The key levels for our index today are 4560 and 4480 Australian shares are set to trade higher today after positive leads from key markets in the U S and Europe The market has again set itself up for a rally into the end of the month as investors should by now have finalised their portfolios for the end of year cleanout Look for energy mining and banking stocks to see some bargain hunting as we run into the end of the month The Greek government votes on its austerity measures legislation tonight Meanwhile news that German banks are in discussions to make accomodations regarding the Greek bailout is improving investor sentiment See below for ASX listed companies in the news today Economics News Today Skilled Vacancies Index for June U S Markets U S stock markets closed sharply higher again ovenight as investors bet on a resolution of the Greek debt crisis Stocks in the energy materials and technology sectors all surged higher The Dow Jones Index posted its biggest gain in more than two months as signs of progress in the Greek debt crisis sparked a broad market rally The tech heavy Nasdaq Composite led the recent rebound and has risen three of the past four sessions while the S P 500 stock index gains were led by the battered energy sector Investors bet on a resolution to the Greek debt crisis after the German banks agreed in principle to roll over about US10 billion in Greek government debt while Greek politicians are set to vote on the key austerity measures tonight Economic news was mixed with data showing that U S home prices rose in April the first monthly increase in eight months while the June consumer confidence reading was slightly below May s reading Commodities appear to be finding support with gold prices modestly higher closing above US1 500 an ounce and snapping three sessions of sharp declines while crude oil prices bounced back off the US90 level All ten company groups that make up the S P index traded higher the Energy sector was up 2 9 Materials were up 1 9 Industrials were up 1 6 Consumer Staples were up 1 9 while the Financials sector was up 0 5 The Dow Jones closed up 1 2 or 145 points at 12 044 the S P 500 index closed up 1 3 or 16 points at 1 297 the Nasdaq ended up 1 5 or 41 points at 2 729 and the smaller cap Russell 2000 was up 1 4 European Markets European stock markets rose overnight as a resolution to the Greek debt problems draws near The European Stoxx 600 index rose 0 5 and the Greek market jumped 2 7 Banks in the region jumped higher as the German banks joined in on the discussions over the Greek bailout package Investors bet on a resolution of the Greek debt crisis after the German banks agreed in principle to roll over about US10 billion in Greek government debt while Greek politicians are set to vote on the key austerity measures tonight In London FTSE 100 rose and in Germany the DAX gained as well with both markets up over 0 8 The Greek market rose despite Greece facing a two day strike by workers to protest the austerity measures which has led to violence as the Greeks face spending cuts and higher taxes The European Union has mandated that the Greek parliament must approve austerity measures so that the nation can access further bailout assistance The vote on the package is scheduled for tonight while a vote on the implementation legislation is set for Thursday In London the FTSE 100 index was up 0 8 or 45 points at 5 767 the German DAX was up 0 9 or 62 points at 7 170 while in France the CAC was up 1 5 or 55 points at 3 852 Asian Markets Asian markets generally rose yesterday as investors looked for bargains ahead of the Greek parliamentary vote on austerity measures scheduled for tonight Banks and exporters across the region led the gains Investors bet that Greece will be able to avoid a default on its national debt In Japan the Nikkei Stock Index closed higher led by the exporters In Hong Kong the Hang Seng finished flat while the Chinese Shanghai Composite rose for a fifth straight session Stocks in the region today are likely to take the U S lead with energy miners and financials set to be in focus In China the SSE Composite was up 0 1 or 1 point at 2 759 while in Hong Kong the Hang Seng Index was up 0 1 or 20 points at 21 172 and in Japan the Nikkei 225 Index was up 0 7 or 70 points at 9 649 The South Korean KOSPI was down 0 4 for the session while the Indian market was up 0 4 Commodities The Dollar Index was lower at 75 05 on a higher Euro while the Australian Dollar last traded higher at 104 31 Commodities prices were higher For the session the benchmark crude NYMEX for June delivery was up 2 5 or US2 22 to settle at 92 83 Copper prices are still below 2 year highs as Copper for June delivery was up 1 0 or 4 0 cents at US4 0975 June gold was up 0 3 or US3 70 at US1 502 ASX News Today AGK AGL Energy Ltd will earn a development fee of 38 million from the sale of its Oaklands Hill wind farm now under construction in Victoria AMP AMP says transaction costs of its merger with AXA APH will total 30 million in the 1H11 AGO Wah Nam International Holdings says it will allow its offer for iron ore miner FerrAus to lapse after being trumped by a deal between the target and Atlas Iron BHP BHP Billiton is among other resource majors that have been upgraded to overweight from neutral by HSBC which commented a moderating China is more than priced in CNP Centro Property faces a multi million dollar class action against shopping centre owner Centro which will be boosted by a Federal Court decision against the company s directors acording to the claimants CSS Clean Seas Tuna is encouraged by the survival of some of the Southern Bluefin tuna juveniles in its first sea trials to grow juvenile fish MMX Murchison Metals is in a trading halt but says the 4 billion Oakajee port and rail project in WA s mid west faces significant funding and supply chain hurdles after SinoSteel a major foundation customer closed its mid west iron ore operations last week PPT Wealth manager Perpetual has responded to an ASX inquiry about a recent drop in its share price by noting reported comments from its star employee John Sevior currently on leave apparently questioning whether he will return to the company QAN A leading NZ aviation analyst has claimed it was cash not ash that grounded Qantas and Jetstar planes while plumes of Chilean volcano cloud hung over the Tasman Sea RIO Rio Tinto Ltd says there are no signs of demand tapering off for its iron ore despite a recent weakening in spot prices for the steel making commodity CEO Tom Albanese said the company will grow as demand for resources continues unabated over the next 10 years UGL United Group says it has agreed to new works and contract extensions worth a combined A 400 million including new long term maintenance agreements with companies including BHP and Coal Allied Ltd CNA for Australian coal mines and similar contracts for alumina and fuel refineries UGL now has over A 1 5 billion worth of opportunities across the resources sector VBA Virgin Australia will seek to end its relationship with Malaysia Airlines MAS as it pursues a partnership with aviation powerhouse Singapore Airlines Local Corporate Reporting None Ex dividend Date None Market Summary ASX to open higher US UK Europe higher US ADRs Broadly Higher BHP up 2 2 RIO up 2 2 AWC up 1 2 ANZ up 1 7 NAB up 2 6 NEM up 0 8 JHX up NWS up 1 0 Commodities Stock Index up 2 3 Gold Stocks Index up 1 4 Oil Stocks Index up 2 4 By Michael Hevern Head of Research For Buy and Sell recommendations on ASX listed companies register for a FREE trial of MDS Financial Research Tags Asian Markets ASX News Business News Commodities Crude Oil European Markets S P500 Stock Market Analysis stockmarket trading US Market wrap Posted in Morning Wrap Stock Market Analysis No Comments Share Purchase Plan Mint Wireless Wednesday June 29th 2011 Mint Wireless MNW announced on the 28 6 2011 that they would be conducting a Share Purchase Plan to raise additional capital The record date was the 27 6 2011 on which shareholders must own the share to participate in the SPP The closing date is 22 7 2011 Shares will be issued on 28 7 11 and begin trading on 3 8 2011 A maximum of 15 000 can be purchased by each shareholder at 0 10 or a 10 discount to the volume weighted average price Discount 10 0 Liquidity Poor Profitability Ok Stability Poor www mint technology com au Note Discount is based on the closing price on the 28 June 2011 Tags Mint Wireless MNW Share Purchase Plan SPP Posted in Share Purchase Plan SPP No Comments ASX Company News Swick Mining Services Acquires Every Day Mining Services Drilling Operation Wednesday June 29th 2011 Swick Mining Services Ltd SWK is pleased to announce it has entered into an agreement to purchase the underground diamond drilling division of Every Day Mining Services EDS It is expected that completion will occur on the 30th June 2011 The purchase includes seven drill rigs vehicles and consumables as well as the transfer of experienced local Cobar based crews from EDMS to Swick The transaction cements additional work in the Cobar region for Swick with Glencore s CSA Copper Mine and CBH Resources Endeavor Mine A total of three rigs will be in place with these clients The drill rigs purchased include five skid mounted underground rigs and two mobile rigs The skid rigs will be relocated to Swick s North American Operations where there is a requirement for additional skid rigs to service the market Swick s Managing Director Kent Swick states the purchase of EDMS s underground diamond drilling division is a strategic decision that expands our NSW Operations from the current three mines to five contiguous operations ranging from Broken Hill to Tritton The transaction will be completed with minimal disruption to EDMS s clients and employees and is an excellent outcome for both Companies Swick is well established in Cobar with a regional office and workshop in the town and we will be able to service the new clients very well We have been contracted in the region since 2004 and we are committed to supporting the local underground operations Swick Mining Services SWK is one of Australia s largest mineral drilling contractors providing high quality high value underground and surface drilling services to a diverse group of mining houses in gold iron ore nickel copper lead zinc and manganese The Company has a strong reputation for innovation in rig design and drilling practices that delivers improvements in productivity safety versatility and value Swick recently committed to expanding its operations outside of Australia and building a global brand through an expansion into targeted international markets with an initial focus on North America EDMS is a diversified mining services business headquartered in Brisbane Qld The group comprises four subsidiaries EDMS Metals Pty Ltd EDMS Energy Pty Ltd EDMS Assets Logistics Pty Ltd and EDMS Human Capital Pty Ltd servicing the metalliferous coal and gas sectors in NSW and Qld EDMS has operational hubs in Cobar Gunnedah Rutherford Newcastle in NSW and Yatala and Brisbane in Qld www swickmining com au http www traderdealer com au fundamentals sws Tags acquisition Drilling EDS Every Day Mining Services Mining Services Swick Mining Services SWK Posted in ASX Company News No Comments ASX Company News Patties Foods To Supply Brumby s Bread Shops Wednesday June 29th 2011 Patties Foods PFL announces that it has signed a Heads of Agreement with listed retail food franchisor and owner of the Brumby s Bakeries franchise system Retail Food Group RFG that will facilitate PFL s supply of savoury pastry products to Brumby s Bakeries outlets throughout Australia Supply to Brumby s national franchise network of over 300 outlets from Patties Foods state of the art baking facility in Bairnsdale Victoria is expected to commence before the end of December 2011 Patties Foods has supplied savoury pastry products to another of RFG s successful franchise systems the 328 outlet Michel s Patisserie network since 2007 MD of Patties Foods Limited Greg Bourke said the supply agreement with RFG is in line with PFL s strategy to grow its share of the Out of Home market capitalizing on the investment in production capacity at Bairnsdale over recent years PFL has enjoyed an excellent trading relationship with RFG through its Michel s Patisserie franchise and we are looking forward to working with it on further supply opportunities in both savoury and sweet products into the future This expansion of our contract manufacturing business complements the growing success of our whole range of frozen branded products including Four N Twenty Herbert Adams Nanna s and Creative Gourmet Mr Bourke said RFG CEO Tony Alford said the agreement by which Patties Foods will manufacture and deliver RFG proprietary savoury products into the Brumby s network represents a positive endorsement for Patties whilst satisfying our over arching requirement for alignment of our franchise systems with robust suppliers capable of providing tailored solutions on a national basis Patties Foods Limited PFL listed in November 2006 and is the leading Australian owned branded frozen food company with market leadership in the frozen savoury dessert and fruit segments www patties com au http www traderdealer com au fundamentals pfl Tags Baking products Food Patties Food PFL Retail Retail Food Group RFG Posted in ASX Company News No Comments ASX Company News NuSep Secures Three Year Contract Wednesday June 29th 2011 NuSep NSP wishes to advise the market that it has signed a new three year Gels distribution agreement with Thermo Fisher Scientific This agreement has a minimum guaranteed purchases commitment of US 850 000 over the first 15 months This distribution agreement will provide access to NuSep s nUView gels in the Bio Rad and Invitrogen format cassettes which account for approximately 90 of all the gels sold in the US The minimum purchases amount of 850 000 over the first 15 months represents a doubling of NuSep s Gel sales over the last financial year Dr Hari Nair Managing Director of NuSep said that This is a significant distribution agreement for NuSep as it strengthens our relationship with one of the world s premier Life Science companies and gives us worldwide reach for our Gel products Mr John Manusu NuSep s Executive Chairman said Global distribution agreements like this establish the framework which will enable NuSep to achieve its goal of a 10 market share of the Gels market NuSep NSP is a publicly listed life sciences company that sells products into the global BioSeparations market NuSep recently acquired BioInquire which developed the ProteoIQ software enabling NuSep to offer a total Proteomics solution from Fraction to Function The company has offices in both Sydney Australia and Atlanta USA With a 30 year heritage in biological separations NuSep has forged a world class reputation for its innovative yet simple biological separation techniques including the world s first IVF sperm separation device In short NuSep has redefined the BioSeparations market through innovation and simplification www nusep com http

    Original URL path: http://blog.traderdealer.com.au/2011/06/ (2013-02-02)
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  • 2011 May | Online Stockmarket Trading Update
    mining land development and infrastructure sectors which Brierty as a self performing contractor is well positioned to benefit from Brierty provides civil construction and mining services to government and private industry through four lines of business which include Transport Infrastructure Resources Infrastructure Land Development and Mining www brierty com au http www traderdealer com au fundamentals byl Tags Brierty BYL Engineering Services Karara Mining Mining Services New contract Posted in ASX Company News No Comments Stock Market Analysis Global Markets Down For A Fourth Week Monday May 30th 2011 U S stock markets declined for a fourth straight week giving the U S the first month of consecutive weekly losses since the GFC in June 2008 European stock markets closed lower for a fourth week as sovereign debt concerns escalated Resources stocks offered support as commodities prices rose Asian markets have fallen for a fourth week due to concerns over a faltering global recovery Many markets have had their biggest string of consecutive losses in two years Commodities prices continued to recover The SPI Futures is trading below the key level of 4800 rising 0 1 or 5 pts to 4 695 The key levels for our index this week are 4780 and 4600 Australian shares are expected to trade flat today as markets fell for a fourth week across the world with China leading the declines Banks were the worst hit in our ASX Top 20 stocks last week The mining tax will be in focus again this week after the WA Government sharply increased the state iron ore royalities from the miners by 2 billion The spectre of the carbon tax is also weighing on sentiment The Australian GDP figures are due out this week and comments from the Treasurer are not very reassuring as he said the natural disasters in Australia probably cut more than 1 percent from economic growth in the first quarter He went on to say 85 percent of Queensland s 57 coal mines suffered production losses in the early part of the year The OECD has forecast the Australian economy will advance 2 9 percent this year and accelerate to 4 5 percent by 2012 See below for ASX listed companies in the news today Economic News Today Q1 Business Indicators Company Profits Inventories US Markets U S stock markets declined for a fourth straight week giving the U S the first month of consecutive weekly losses since the GFC in June 2008 To date the pullback has been measured with stocks down only 2 4 during the four week sell off The U S markets appear to be following the same script as this time last year Despite the Japanese earthquake disaster thowing a spanner in the works the other issues that are impacting the markets are similar to that of this time last year The jury is out as to whether the Fed will still hold to its commitment to turn off the QE2 tap in June Economic data continues to disappoint with the latest data showing weekly jobless claims exceeding 400 000 for a seventh straight week Consumer spending growth has been revised down from 2 7 to 2 2 while economic growth for the first quarter remained at 1 8 A recent survey from the American Association of Individual Investors showed the bullish numbers shrinking to less than 26 the smallest since last August as investors have withdawn nearly US5 8 billion from U S stock mutual funds so far in May while redeploying funds into more defensive positions with more than US16 5 billion invested in bond funds even as yields are miserable This could be setting up for another bullish run in the next quarter as the VIX volatility index remains at 3 year lows showing investors are not actively buying put options to protect their positions ie the fear gauge is currently running low Commodity prices have supported the markets recently with crude oil prices hovering around US100 after having slumped 12 in May copper rebounding 5 5 over the past three weeks and gold has bouncing above the US1 500 level again The Dow Jones closed up 0 3 or 39 points at 12 441 the S P 500 index closed up 0 4 or 5 points at 1 331 the Nasdaq ended up 0 5 or 14 points at 2 797 and the smaller cap Russell 2000 was up 0 6 The U S market in on holiday tonight All ten company groups that make up the S P index traded higher the Financials sector was higher by 0 7 Materials were up 1 1 Industrials were up 0 5 Consumer Staples were up 0 3 Technology was up 0 5 while the Energy sector was up 0 3 European Markets European stock markets closed lower for a fourth week as sovereign debt concerns escalate The Stoxx Europe 600 index ended down 0 2 for the week The debt issues are most problematic in the PIIGS economies in particular Greece Portugal and Spain Resource stocks were among the best performing of the 19 industry sectors in the Stoxx 600 last week while Russia has announced it will cease its ban on wheat exports on 1 July The European Central Bank is signaling that it remains on track to raise interest rates further despite the continent s debt crisis In London the FTSE 100 managed to finish in the green on Friday as the miners and energy majors again provided support making up some ground after losses of the past few weeks In Germany markets recovered on Friday as the sentiment for banks improved as the Fitch Ratings credit ratings agency said it does not foresee any rating action on German banks as a direct result of their exposure to Greek sovereign debt The FTSE 100 index closed up 1 0 or 58 points at 5 939 the German DAX was up 0 7 or 49 points at 7 163 and the French CAC was up 0 9 or 4 points at 4 062 Asian Markets Asian markets have fallen for a fourth week due to concerns over a faltering global recovery as many markets have experienced their biggest string of consecutive losses in two years Resource stocks have provided support in the region on the back of the recent rising commodities prices with crude oil holding around US100 after Goldman Sachs and Morgan Stanley raised their 2011 and 2012 forecasts earlier in the week There have been pockets of investor bagain hunting for stocks that have been sold off recently but the broader markets continued their falls In the course of the week the Japanese Nikkei Index fell 0 9 South Korea fell 0 5 and the Aussie S P ASX 200 dropped 1 Hong Kong finshed 0 4 lower while the Chinese Shanghai market plunged 5 8 for the week its fifth loss in six weeks and is 11 4 off its mid April high Credit Suisse the investment house noted that the Shanghai Composite Index is now well below its 200 day average and is trading at 15 3 times profits below the average 16 9 multiple seen over its last three troughs in 1996 2005 and 2008 However Chinese data continues to point to slow growth in the world s second largest economy as data showed a preliminary HSBC Purchasing Managers Index had slipped to a 10 month low pointing to a slowdown in manufacturing In China the SSE Composite was down 1 0 or 27 points at 2 710 while in Hong Kong the Hang Seng Index was closed up 0 9 or 217 points at 23 118 and in Japan the Nikkei 225 Index was down 0 4 or 40 points at 9 522 The South Korean KOSPI was up 0 4 while Indian market was up 1 2 Commodities The Dollar Index was lower at 74 95 on a higher Euro while the Australian Dollar last traded lower at 106 96 Commodities prices rose For the session the benchmark crude NYMEX for June delivery was up 0 4 to settle at 100 75 Copper prices are higher but still below 2 year highs as Copper for June delivery was up 1 7 or 7 3 cents at US4 1760 June gold was up 0 9 or US13 50 at US1 536 50 ASX Market News AJL AJ Lucas Group the resources services provider has downgraded its full year earnings guidance and flagged asset sales to reduce its debilitating debt ALL Aristocrat Leisure Ltd our largest poker machine maker is business as usual after governments from around the country failed to reach a consensus on reforms to limit problem gambling AUN Austar United Communications the Pay TV provider has had a takeover bid from Foxtel valuing the company at 1 93 billion CIL Centrebet International the internet gaming and wagering company has agreed on a scheme by which the London based online gaming company Sportingbet Plc will acquire the company for 183 million CTX Caltex says refiner margins continued to contract in April as the price of crude oil rose on tight supply after the Japanese earthquake and Libyan conflict CXY Cougar Energy will open an office in Beijing to help support the growth its underground coal gasification UCG projects in China and Asia FPA Fisher Paykel returned to profit in the year to March but its revenue for the latest 12 months fell 3 7 per cent from the year before to NZ1 12 billion A850 84 million GNC Graincorp the grain handler and marketer has posted half year net profit up 66 percent and has lifted guidance for earnings and profit for the full year ILU Iluka Resources Ltd the mineral sands producer plans to boost production of zircon and high grade titanium ore after achieving price increases in the first half of calendar 2011 LLC Lend Lease Group the construction company and property developer is on track to deliver its target full year return on equity ROE of 15 percent NHC New Hope Corp has updated its JORC compliant reserves and resources statement increasing coal resources by 56 to 1 539Mt while coal reserves increased by 12 4 to 544Mt ORG The Origin majority owned Contact Energy has welcomed the granting of resource consents for 168 wind turbines and transmission lines to its proposed Hauauru ma raki wind farm in Waikato OZL OZ Minerals the single mine gold and copper producer will trade on a post consolidation basis from Monday 30 May until 10 June The number of shares on issue will reduce by a factor of 10 to 324 million TWR Tower the insurer and fund manager says 1H11 net profit fell 54 percent to A9 7 million with the result including the impact of earthquakes in Christchurch and a loss due to changes in the global investment market VBA Virgin Australia has to wait until June for final approval of its proposed partnership with Delta Air Lines on trans Pacific routes after the US government extended the comment period by a week While locally Virgin Blue Holdings has suffered a fall in domestic and international passenger numbers in April Local Corporate Reporting None Ex dividend Date None Market Summary ASX to open higher US UK Europe higher but down again for the week US ADRs Generally Higher BHP up 0 8 RIO up 1 3 AWC up 0 1 ANZ up 0 1 NAB up 1 4 NEM up 1 0 JHX up 2 4 NW S up 1 3 Commodities Stock Index up 0 3 Gold Stocks Index up 1 9 Oil Stocks Index up 0 3 By Michael Hevern Head of Research For Buy and Sell recommendations on ASX listed companies register for a FREE trial of MDS Financial Research Written on 30 May 7 15am Tags Asian Markets ASX News BHP Commodities Crude Oil European Markets gold price Nasdaq Stock Market Analysis stockmarket US Market wrap Posted in Morning Wrap Stock Market Analysis No Comments ASX Company News Moodys Downgrades CBA Following A Review Of NZ Banks Monday May 30th 2011 Moody s Investor Services Moody s announced the outcome of their review of the ratings of all major New Zealand banks including ASB Bank This follows a similar review carried out in relation to Australian banks including ASB s parent company the Commonwealth Bank of Australia the Group As a result of the review ASB Bank s long term senior unsecured rating has been lowered from Aa2 to Aa3 The ratings outlook is stable This rating adjustment reflects Moody s view of the Australian and New Zealand banking systems structural sensitivity to the wholesale funding market which is one of the sources of funding for all major banks in New Zealand CBA Treasurer Lyn Cobley said As with the outcome of Moody s review of the major Australian banks announced last week we do not expect this adjustment will have a material impact on the funding plans of either ASB or the CBA Group www commonwealthbank com au http www traderdealer com au fundamentals cba Tags Banks CBA Commonwealth Bank Financial Services Ratings downgrade Posted in ASX Company News No Comments ASX Company News Centrebet International To Merge With Sportingbet Monday May 30th 2011 Centrebet International Limited CIL announces that it has entered into a Scheme Implementation Agreement with Sportingbet plc and Sbet Australia Pty Limited a wholly owned subsidiary of Sportingbet under which it is proposed that Bidder will acquire all of the outstanding ordinary shares and performance rights in Centrebet under two separate inter conditional Schemes of Arrangement Under the terms of the Schemes Centrebet shareholders and performance rightholders will receive a cash consideration of A 2 00 per Centrebet Security valuing Centrebet equity at approximately A 183 million The Cash Consideration is intended to be financed by way of a 65 million underwritten issue of ordinary shares and a 65 million issue of convertible bonds for which firm binding orders have been received by Sportingbet Michael McRitchie Centrebet Managing Director said The offer is demonstrably attractive and a combination with Sportingbet will make Centrebet a stronger business in the Australian market I am excited about the ability of the merged group to take advantage of the opportunities in the current market Centrebet commenced operations in 1992 and in 1996 was the first licensed bookmaker in the Southern Hemisphere to offer online sports betting Centrebet is now a leading International online wagering and gaming operator offering fixed odds betting on a wide variety of Australian and International sporting racing entertainment and political events as well as online poker and casino products Sportingbet is a UK based online sports betting and gaming group primarily operating in Europe and Australia www centrebet com http www traderdealer com au fundamentals cil Tags Centrebet International CIL Online betting Sportingbet Posted in ASX Company News No Comments ASX Company News IPGA Acquires PT Web Marketing Monday May 30th 2011 IPGA Ltd IPP the owner of Asia s No 1 network of property portal sites under the iProperty brand announced that it has agreed to acquire PT Web Marketing owner and operator of Indonesia s largest property portal www rumah123 com Simultaneously IPGA Ltd has also agreed to acquire the number three ranked property portal in Indonesia www rumahdanproperti com Rumah123 com is Indonesia s largest and most established property portal Based in Jakarta and with a staff of more than 50 rumah123 com is the only Indonesian property portal to have successfully rolled out a paid advertising model with more than 1 200 real estate agents purchasing a monthly subscription and another 4 000 agents in the database In addition rumah123 com also generates revenue from property developers and display advertisers Rumahdanproperti com is the number 3 ranked portal in Indonesia It has an additional 2 200 agents 15 000 property listings and an additional audience of 100 000 unique visitors per month Shaun Di Gregorio the CEO of IPGA commented Following our success in Malaysia Singapore and Hong Kong we identified Indonesia as a natural growth market for the business Research shows that Indonesia is undergoing strong economic growth and there is now more than US 100 million per annum being spent on property advertising and a rapidly growing Internet audience of more than 30 million To ensure the best chance for long term value creation we simultaneously targeted acquiring the clear market leader in rumah123 com and the 3 player rumahdanproperti com Together this provides a clear leadership position similar to the one we enjoy in the rapidly growing Malaysian market continued Di Gregorio IPGA Ltd has agreed to acquire PT Web Marketing for AUD1 0 million in cash and 7 0 million shares in IPGA Ltd upon completion IPGA will acquire rumahdanproperti com for AUD300K in cash upon completion and an additional AUD200K in cash within twelve months of completion based upon certain performance criteria being met Completion for both acquisitions is targeted to occur by June 30th 2011 IPGA Limited IPP owns Asia s leading network of property websites under the iProperty com umbrella brand The Company is focused on developing and operating Internet based real estate portals with other complementary offerings in Asian markets It currently operates consumer and business online property portals in the markets of Singapore Malaysia and Hong Kong with investments in India and the Philippines With further expansion planned IPGA is continuously working to capitalise on its market leading positions and the rapidly growing online property advertising market throughout the region www rumahdanproperti com www iproperty com http www traderdealer com au fundamentals ipp Tags Internet IPGA IPP Online services Property Sales Posted in ASX Company News No Comments The Power of Probabilities When Trading Friday May 27th 2011 Successful trading is about developing a strategy that skews the odds in your favour There are many different ways of doing this but every successful trading strategy comes down to probabilities What a Difference a

    Original URL path: http://blog.traderdealer.com.au/2011/05/ (2013-02-02)
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  • 2011 April | Online Stockmarket Trading Update
    focus is on increasing the profitability and efficiencies of the existing gold business it recognises a substantial medium term opportunity to reduce operational risk and costs through co product mining and optimisation Mr Froneman comments The acquisition of Rand Uranium represents a rare opportunity to purchase a well established gold business that can be commercially optimised through the implementation of uranium co product mining In addition the associated surface and historic gold resources present a substantial opportunity for future production growth The Gold One team with its significant gold uranium and shallow mining experience is well placed to bring the Rand Uranium assets to account Gold One is a gold producer listed on the financial markets operated by ASX Limited and the JSELimited Its flagship operation is the newly built shallow Modder East mine on the East Rand some 30 kilometres from Johannesburg Modder East is the first new mine to be built in the region in 28 years and distinguishes itself from most of the other gold mines in South Africa owing to its shallow nature 300 metres to 500 metres below surface www gold1 co za http www traderdealer com au fundamentals gdo Tags acquisition GDO Gold Mining Gold One International Rand Uranium Uranium Posted in ASX Trading News No Comments ASX Company News NRW Holdings Awarded 160 million Rio Tinto Project Friday April 29th 2011 NRW Holdings Ltd NWH is pleased to announce that it has been awarded the Western Turner Brockman Project Earthworks and Primary Civil Works for Rio Tinto Iron Ore RTIO Worth approximately 160 million with twelve months duration this contract represents another significant win for NRW s civil division and will be undertaken in joint venture with Eastern Guruma Pty Ltd The contract award comprises two distinct sections which will be undertaken simultaneously the Brockman 4 Project Phase II B4P2 and the Western Turner Syncline Stage 1 Project NRW expects to mobilise its workforce within four weeks of contract award and the peak workforce is expected to be approximately 550 people NRW chief executive officer Jules Pemberton welcomed the award Rio Tinto Iron Ore is one of NRW s long term clients and in addition to other recently awarded contracts this represents further expansion of our civil division Having worked for RTIO on Brockman 4 previously and currently undertaking mining operations at Western Turner Syncline we understand the Projects and look forward to performing the works in the timely and quality manner that RTIO have come to expect from NRW Eastern Guruma Board Member Tania Stevens thanked RTIO for the opportunity saying Rio Tinto understands the need for sustainable opportunities to be provided to Indigenous Australians and I am confident both Rio Tinto and NRW would agree this contract symbolises the success of our joint venture to date We look forward to continuing our strong partnership with NRW into the future as we continue to expand our capability www nrw com au http www traderdealer com au fundamentals nwh Tags mining Mining Services New contract NRW Holdings NWH Rio Rio Tinto Posted in ASX Company News No Comments ASX Company News Computershare Acquires US Shareholder Services Friday April 29th 2011 Computershare Limited CPU announced that it has agreed to acquire The Bank of New York Mellon Corporation s Shareowner Services Business for a total value of USD 550 million in an all cash transaction The transaction will be funded from available cash resources and new credit lines The Business is a leading provider of Transfer Agency and Employee Equity Plan services to US publicly listed companies It has about 950 Transfer Agent clients and about 200 Employee Equity Plan clients The Business has operations at a range of locations with its major processing centre and headquarters in Jersey City New Jersey Stuart Crosby CEO and President of Computershare Limited said This is the largest acquisition in Computershare s history It provides a wonderful opportunity to further demonstrate our technology and processing capabilities to a new group of clients It also provides Computershare with additional opportunities to participate in the inevitable upturn in corporate actions and global interest rate cycles Our transfer agency and employee share plan services businesses provide excellent services for issuers and investors We look forward to maintaining and building on our current service levels for existing clients and to introducing the Business s issuers and investors to our offering once regulatory approval has been obtained Computershare CPU is a global market leader in transfer agency and share registration employee equity plans proxy solicitation and stakeholder communications It also specialises in corporate trust services tax voucher solutions bankruptcy administration and a range of other diversified financial and governance services BNY Mellon is a leading provider of financial services for institutions corporations and high net worth individuals offering superior investment management and investment services through a worldwide client focused team www computershare com www bnymellon com http www traderdealer com au fundamentals cpu Tags acquisition computershare cpu Share Registry Services Technology Posted in ASX Company News No Comments ASX Company News Koon Holdings Secures 16 million Precast Concrete Thursday April 28th 2011 Koon Holdings Limited KNH is pleased to announce that its subsidiaries Econ Precast Pte Ltd and Contech Precast Pte Ltd have recently been awarded several new projects amounting to approximately S 16 3 million The contract is a subcontract for design supply and delivery of precast components for the public housing projects with a total value of approximately S 16 3 million secured under Econ and Contech for a duration of 15 months to 18 months With the inclusion of these contracts the Group currently has an outstanding precast order book of approximately S 53 2 million www koon com sg http www traderdealer com au Fundamentals knh Tags Construction KNH Koon Holdings New contract Precast Concrete Posted in ASX Company News No Comments ASX Company News Tox Free Acquires Waste Solutions In Darwin Thursday April 28th 2011 The board of Tox Free Solutions Ltd TOX is pleased to announce it has entered into an agreement to acquire Waste Solutions NT Pty Ltd based in Darwin Australia The purchase price for the Waste Solutions business is 18 million comprising 10 million in cash and 3 832 904 fully paid ordinary shares in Tox Free Waste Solutions is a leading provider of total waste management services in the Northern Territory particularly Darwin Services include solid waste management liquid waste treatment and industrial and hazardous waste management Waste Solutions operate a liquid waste treatment plant and has a number of long term contracts serving the defence industry and the Territory s largest private enterprises Over half of Waste Solutions revenue is secured by annual or long term contracts Tox Free is well positioned to provide total waste management and industrial services for the oil gas and mining sector in the region through its operating divisions in Karratha Port Hedland Broome Derby and now Darwin The value of Waste Solutions assets is approximately 4 million which are included in the sale price Tox Free expect to improve the financial performance of the business through organic growth of the region introduction of further services including industrial services and hazardous waste treatment and synergies with Tox Free s Kimberley and Pilbara facilities Tox Free is the dominant waste management provider in the North West Region providing industrial services solid liquid and hazardous waste management Tox Free expects to significantly grow the services offered in the Darwin region in the medium term through its expertise in servicing the resource sector This is a significant acquisition for Tox Free that will further position the Group as a leading national provider of industrial and waste management services Tox Free Solutions Ltd TOX is one of the largest integrated waste management industrial service and environmental businesses in Australia The Company offers a full range of waste management services through its national network of licensed waste treatment facilities In addition Tox Free are fast becoming the leaders in onsite industrial services waste minimization resource recovery and total waste management services www toxfree com au http www traderdealer com au fundamentals tox Tags acquisition TOX Tox Free Waste management Posted in ASX Company News No Comments ASX Company News Worley Parsons Awarded Fortescue Contract Thursday April 28th 2011 WorleyParsons WOR has been awarded an engineer procure and construction management EPCM services contract for the expansion of Fortescue Metal Group s FMG Anderson Point port facilities in Port Hedland Western Australia The project will increase iron ore throughput from approximately 55mtpa to 155mtpa The development includes second and third outloading and inloading circuits three new berths two shiploaders two reclaimers one stacker two train unloaders conveyor systems transfer stations sample stations power and control systems and associated infrastructure Completion will be staged with the first phase scheduled for completion at the end of 2011 and the final phase targeting completion at the end of 2012 To execute this fast track construction driven project teams will be established in Perth and onsite at Port Hedland WorleyParsons business units in China Thailand and Canada will also assist with the project The estimated revenue to be received by WorleyParsons under this contract is 250million Chief Executive Officer of WorleyParsons John Grill commented WorleyParsons has had a strong mutually beneficial relationship with FMG through all phases including EPCM of the Cloudbreak pit to port development Our pit to port business is as a result one of our key capabilities We are pleased to be able to be involved with FMG s large Anderson Point port expansion www worleyparsons com http www traderdealer com au fundamentals wor Tags Engineering Services FMG Fortescue Metals Mining Services WOR Worley Parsons Posted in ASX Company News No Comments Stock Market Analysis QE2 to End But U S Marktets Boosted By The Fed s Remarks Thursday April 28th 2011 U S markets closed higher overnight boosted by comments from the Fed European stock markets closed in positive territory overnight led by the financials Asian stocks ended mostly lower yesterday with investors cautious ahead of a U S decision on monetary policy In commodities Gold futures again hit an all time high above US1 500 an ounce The SPI Futures is trading above the key level of 4930 as the SPI Futures up 0 7 or 33 pts at 4 906 The key levels for our index today are 4960 and 4880 The ASX is set to trade higher as we saw markets rise in the U S and European markets We have options expiry today which will add to the trading activity throughout the day The inflation data yesterday was higher than expected The U S earnings reporting season continues this week Investors still need to monitor the Aussie dollar which has again reached post float highs above US1 085 See below for ASX listed companies in the news today U S Markets U S stocks markets rose to fresh multi year highs boosted by comments from the Fed which confirmed the goal of keeping policy easing steady and interest rates accommodative The Federal Reserve Chairman Ben Bernanke said the central bank would continue to reinvest proceeds from maturing securities and added that there was no specific time frame to begin tightening interest rates Stocks again pushed higher after the Fed confirmed that it will complete its purchases of its 600 billion program of bond buying known as quantitative easing QE2 on schedule at the end of June and also signaled that it was in no rush to raise interest rates and will remain accomodative for an extended period Investors who were scared off when the Fed initially implied in its March 15 FOMC statement that the latest round of quantitative easing would end on schedule have lived to regret their selling on March 16 which marked the absolute bottom of the market s mini pullback The markets have since rallied around 9 since then and look to hold into the end of the month The Dow closed up 0 8 or 95 points at 12 691 while in the broader market the S P 500 index closed up 0 6 or 8 points at 1 356 and the tech heavy Nasdaq ended up 0 8 or 22 points at 2 870 All 10 company groups that make up the S P index traded higher with out performers including Consumer Staples sector was 1 2 Industrials sectors was up 0 4 Healthcare was up 1 1 Materials was up 0 3 Energy sector was flat Technology sector was up 0 6 while the Financials was up 0 6 European Markets European stock markets closed in positive territory overnight led by the financials The Stoxx 600 index rose 0 3 European stocks traded higher following the comment from the U S Fed Chairman In London the FTSE 100 finished flat ahead of its long weekend and the Royal Wedding In Germany the market continues to outperform and it up 7 1 for the year In London the FTSE 100 index closed flat or 1 points at 6 068 the German DAX was up 0 6 or 48 points at 7 405 while in France the CAC was up 0 6 or 22 points at 4 068 Asian Markets Asian stocks ended mostly lower yesterday with investors cautious ahead of a U S decision on monetary policy The Australian stocks traded lower on news of higher than expected inflation in Australia Data showed the 1Q consumer price index CPI was higher than expected up 1 6 from the previous quarter and 3 3 from a year earlier due to soaring oil prices and a flood induced food price spike The Aussie dollar rose to fresh 29 year highs touching 1 085 against the U S dollar as expectations of an interest rate increase by Reserve Bank of Australia rose In Japan the Standard Poor s ratings agency warned on Japanese debt but the Nikkei bucket the trend rising on the session as the market shrugged off S P s lowering of its long term rating debt to negative from stable as the S P ratings firm cited the risk of a downgrade if the recent earthquake causes the fiscal situation to deteriorate substantially more than expected Sony shares shed 2 after news that hackers had stolen the names birthdates and possibly credit card numbers of 77 million people who play online video games through the company s PlayStation console The BoJ meets today In China the market ended lower amid concern the next round of tightening measures may be announced ahead of the coming Labor Day long weekend The Shanghai Composite Index ended lower at its lowest close in five weeks while Hong Kong s Hang Seng Index also finished down Chinese property stocks were weaker after the government criticised some local governments for ineffective price controls according to reports In China the SSE Composite down 0 5 or 13 points at 2 925 while in Hong Kong the Hang Seng Index was down 0 5 or 114 points at 23 893 and in Japan the Nikkei 225 Index was up 1 4 or 133 points at 9 691 The South Korean Kospi Composite ended flat while the Indian Sensex fell 0 5 Commodities The Dollar Index was lower at 73 29 on a higher Euro while the Australian Dollar last traded around record levels at 108 85 Commodities were generally lower For the session the Benchmark crude NYMEX for April delivery was up 1 0 or US1 15 to settle at US11337 Copper prices are sells off from 2 year highs as Copper for April delivery was down 2 0 or 9 cents at US4 2520 April gold was up 0 9 or US13 70 at US1 512 60 ASX Market News AGO Atlas Iron Ltd reported a slight fall in iron ore production and exports in the 3Q due to the weather in what has been an otherwise buoyant period for the miner AHE Automotive Holdings Group the Car retailer and logistics group is in talks with several automotive groups about a possible transaction APK Regional energy supplier Australian Power and Gas Company says underlying profit will nearly quadruuple FY12 as a result of expansion into NSW and Queensland AZX Auzex Resources Ltd the Australian gold explorer says the federal government has given the green light to a London based company s planned takeover of its joint venture partner BKN Bradken Ltd the Mining products supplier has refinanced all its loans at lower interest payments and reduced restrictions to provide for future growth BRM Brockman Resources Ltd will make a final investment decision on its WA based Marillana iron ore project next quarter CSV QGC the Coal seam gas company has defended its plans for the disposal of mineralised water and salt brought to the surface during mining operations CTX Caltex remains committed to its local refining business despite collapsing refiner margins and a slump in first quarter profit EQN The Chinese Minmetals Resources has withdrawn its offer to buy Equinox Minerals Ltd after it was gazumped by a US7 7 billion bid by mining company Barrick Gold Corp LEI Leighton Holdings Ltd s 45 percent subsidary held Middle East division has won two new contracts in Abu Dhabi worth more than 150 million LYC Lynas Corporation the rare earths developer has postponed its extraordinary general meeting to consider a development deal with Forge Resources until mid June MCC Macarthur Coal Ltd s March quarter production and sales volumes fell sharply after wet weather in Queensland s Bowen Basin hampered its operations ORG Origin Energy shares were up after announcing its multi billion dollar liquefied natural gas LNG sales deal with state owned China Petrochemical Corporation Sinopec last week SDL Sundance Resources Ltd says its share placement with international institutional investors to raise 60 million has been significantly oversubscribed SGM Sims Metal Management the Metal recycler expects net profit of 123 million in the first nine months of FY11 up 74

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  • 2011 March | Online Stockmarket Trading Update
    June quarter UGL UGL says it has entered into a JV with a Saudi Arabian engineering firm to deliver facilities and property management services across the Middle Eastern country XAM Xanadu Mines Ltd has acquired the Mogoin Gol copper prospect covering 488 square kilometres in northern Mongolia Local Corporate Reporting CFS Retail Property Trust CFX Unitholders meeting re 540 million placement Commonwealth Property Office CPA Unitholder Meeting Fund Ex dividend Date ACR Acrux Ltd CRZ Carsales Com Ltd NCI Natioanal Can Industries Market Summary ASX to open higher US UK Europe higher overnight US ADRs Broadly Higher BHP up 1 7 RIO up AWC up 2 6 ANZ up 1 9 NAB up 1 3 NEM up 1 2 JHX up 0 7 NW S up 1 5 Commodities Stock Index up 0 8 Gold Stocks Index up 1 9 Oil Stocks Index up 0 8 By Michael Hevern Head of Research Tags Asian Markets ASX News Business News Commodities Crude Oil European Markets Ex Dividend gold mining Stock Market Analysis stockmarket trading US Market wrap Posted in Morning Wrap Stock Market Analysis No Comments Share Purchase Plan Lynas Corporation Thursday March 31st 2011 Lynas Corporation LYC announced on the 30 3 2011 that they would be conducting a Share Purchase Plan to raise additional capital The record date was the 29 3 2011 on which shareholders must own the share to participate in the SPP The closing date is 21 4 2011 Shares will be issued on 29 4 2011 and begin trading on 3 5 2011 A maximum of 5 000 can be purchased by each shareholder at 2 07 or a 2 5 discount to the volume weighted average price Discount 5 0 Liquidity Good Profitability Ok Stability Good www lynascorp com Note Discount is based on the closing price on the 22 March 2011 Tags LYC Lynas Corporation Share Purchase Plan SPP Posted in Share Purchase Plan SPP 1 Comment ASX Company News Progen Pharmaceuticals Enters Diabetes Joint Venture Thursday March 31st 2011 Progen Pharmaceuticals Limited PGL announced that it has entered into a Diabetes Collaboration Framework Deed with the Australian National University ANU and ANU Enterprise Pty Limited ANU researchers have developed intellectual property for a new therapeutic approach for the treat ment of type 1 diabetes with potential application in type 2 diabetes The collaboration strategically builds on the relationship between ANU and Progen to progress the commercialisation of the new therapy ANU will commercialise the intellectual property by establishing a new company focused on the commercial development of new diabetes therapeutics Progen will formally collaborate with the ANU hold a small stake in the new company consult with the ANU through an R D Management Group and provide research and development services as and when required on a fee for service basis with the new company Prof Parish who leads the Cancer and Vascular Biology Group at the John Curtin School of Medical Research said that Type 1 diabetes is an autoimmune disease in which the insulin producing beta cells of pancreatic islets are destroyed Our research has led to a new understanding of how pancreatic islet cells including beta cells are protected from metabolic stress and autoimmune attack in type 1 diabetes It also has implications for understanding similar mechanisms in type 2 diabetes Ba sed on this novel discovery we have established a therapeutic approach that attenuates the progression of type 1 diabetes Progen Pharmaceuticals Limited is a biotechnology company committed to the discovery development and commercialization of small molecule pharmaceuticals primarily for the treatment of cancer Progen s core focus is development of its anti angiogenesis and anti metastatic oncology products pipeline www progen pharma com http www traderdealer com au Fundamentals pgl Tags Biotechnology Diabetes Joint Venture PGL Progen Pharmaceuticals Posted in ASX Company News No Comments ASX Company News MobileActive Secures Two Mobile Carrier Contracts Thursday March 31st 2011 MobileActive Limited MBA Australia s leading independent mobile phone content interactive services and technology company has signed two SMS carrier agreements with major Australian telecommunications carriers with a third agreement expected to be completed shortly MobileActive is in the process of establishing an SMS gateway to be connected directly to Australia s major telecommunications carriers Currently the company s carrier connections are via a third party An SMS gateway is a device or service for delivering SMS messages to mobile networks from other media or vice versa allowing transmission or receipt of SMS messages to and from the telecommunications carrier networks with or without the use of a mobile phone The establishment of the gateway will enable MobileActive s Mobile Embrace business to business division to deliver its products and services directly through the major carrier networks and to be an aggregator for third parties to deliver products and services directly through the carrier networks supporting business growth In addition the gateway will enable the company s Mobile Entertainment Retail Division MER to improve gross SMS revenue margin and once implemented can be utilized by MobileActive s majority owned mobile advertising joint venture 4 th Screen Advertising Australia The SMS gateway will sit in MobileActive s Business to Business division Mobile Embrace alongside the company s Mobile Entertainment Retail MER and RingRing Studios mobile content production licensing and distribution units MobileActive Limited MBA is Australia s leading independent mobile phone content interactive services and technology company across business to consumer business to business and production and licensing The company engages consumers through mobile building reach value and loyalty for its brands and the businesses and brands of its clients and partners The company develops aggregates markets and distributes a large and diverse range of mobile phone content and interactive entertainment including applications games video music graphics information text rewards user generated content quiz challenge social gaming and social networking The company provides interactive services and technology including mobile marketing mobile internet and applications publishing and development mobile asset management m commerce mobile messaging mobile membership loyalty reward and mobile

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  • 2011 February | Online Stockmarket Trading Update
    Ltd Full year 2010 Results TFC TFS Corp Interim 2011 Results Ex dividend Date AMC Amcor Ltd AMP AMP Ltd AQP Aquarius Platinum Ltd ASX ASX Ltd AXA AXA Asia Pacific Ltd BEN Bendigo and Adelaide Ltd BSL BlueScope Steel Ltd CCL Coca Cola Amatil Ltd CKL Colorpak Ltd FBU Fletcher Building FRI Finbar Group Ltd GMI Global Mining Ltd IBC Ironbark Capital Ltd MOC Mortgage Choice Ltd MRE Minara Resources Ltd MRM Mermaid Marine Ltd MYS MyState Ltd NRH NRW Holdings Ltd RCG RCG Corporation Ltd SKT Sky Network SPT Spotless Group Ltd SRV Servcorp Ltd SUL Super Cheap Auto Ltd SUN Suncorp Group Ltd TRG Treasury Group UGL UGL Ltd WAM WAM Capital Ltd WOR WorleyParsons Ltd Market Summary ASX to open higher US UK Europe higher US ADRs Broadly Higher BHP up 2 3 RIO up AWC up 2 1 ANZ up 1 6 NAB up 1 8 NEM down 0 6 JHX up 0 2 NWS up 2 8 Commodities Stock Index up 2 0 Gold Stocks Index up 1 8 Oil Stocks Index up 1 2 By Michael Hevern Head of Research Tags Asian Markets ASX ASX News Business News Commodities European Markets gold Stock Market Analysis stockmarket trading US Market wrap Posted in Morning Wrap Stock Market Analysis No Comments Stock Market Analysis Weekly Market Wrap Friday February 25th 2011 Spike in Oil Price Drives Global Markets Lower Globally stock markets have sold off this week as geopolitical unrest spreads in the Middle East with violence increasing in Libya a major oil producing state The broad losses came after April Nymex crude oil futures rose past US100 a barrel for the first time in over 2 years due to the potential of disruptions to supplies Brent Crude rose to over US120 a barrel Overnight the crude oil futures price spiked above US103 as the Libyan rebels that are controlling large areas within the country promised an offensive against the capital Tripoli Investors are concerned that the rising crude prices will hurt consumer spending and ultimately slow down the global economic recovery and that the turmoil could spread to other oil exporters in the region Australian Market Trading in the Australian market has been dominated by investor sentiment from overseas The earthquake in Christchurch has again put the spotlight back on the insurers Stocks sensitive to higher oil prices weighed on the market and even the local energy sector sold off Small and mid cap resource stocks have seen profit taking recently as oil is a major input cost for these mining operations The federal government is revisiting the imposition of a carbon tax and this has added to the negative investor sentiment Traders have used this week s corporate earnings reports as an excuse to take profits resulting in a number of bull traps being triggered as discussed in the Analyst s Eye this week The ASX All Ordinaries has backed off the 5000 level while the S P ASX 200 failed to reach the key psychological level of 5000 US Markets The US markets traded lower in a week shortened by the Presidents Day holiday These markets have seen their biggest falls since last August The three major markets are testing their 50 day moving averages where we would normally expect to see some short term support However if oil prices remain at these elevated levels then this support is likely to give way near term Overnight the Dow closed down 0 3 at 12 068 while in the broader market the S P 500 index was down 0 1 at 1 306 and the tech heavy Nasdaq ended up 0 6 at 2 738 The S P 500 held below key support at 1324 The next target is 1275 European Markets European stock markets are backing off two and a half year highs having sold off sharply this week due to the Middle East unrest the oil price spike and concerns over the global economic recovery The Stoxx Europe 600 index has fallen for a fifth straight session Libya is the first major oil exporter to be engulfed by the crisis and there are fears that the unrest will continue to spread in the Middle East seriously impacting oil production in the medium term Libya exports around 1 2 million barrels of oil a day Saudi Arabia on the other hand exports 6 5 million barrels a day The 3 major European markets U K France and Germany are testing their 50 day moving averages where we would expect to see some short term support but again if oil prices remain at these elevated levels then this support is likely to give way near term Overnight in London the FTSE 100 index closed down 0 1 at 5 920 the German DAX was down 0 9 at 7 130 while in France the CAC was down 0 1 at 4 009 Asian Markets Asian markets have generally sold off heavily this week with the exception of China The Japanese and Hong Kong markets have sold off due to the geopolitical tensions in the Middle East and the rise in the price of oil as well as Moody s downgrade of Japan and China s hike in interest rates In Hong Kong the Financial Secretary reported the economy grew 6 8 in 2010 exceeding forecasts of 6 5 and expects the economy to grow 4 5 in 2011 In China the market has traded flat despite the Chinese consumer confidence index falling in the fourth quarter to the lowest since 2009 indicating concern over inflation is weighing on sentiment and has been running above the government s 4 percent target for the past four months despite a number of recent interest rate rises Yesterday in China the SSE Composite closed up 0 6 at 2 878 while in Hong Kong the Hang Seng Index was down 1 3 at 23 906 and in Japan the Nikkei 225 Index was down 1 2 at 10 452 Our View Next week we should see the S P ASX 200 index find support around 4800 its 50 day moving average but selling pressure will likely resume if the oil price remains at these elevated levels and unrest in the Middle East is not resolved soon The focus for next week will again be on the unrest in the Middle East Asian concerns over inflation European debt concerns and locally the continuing earning reporting season Key levels for next week will be 4880 to 4730 Investors need to monitor the tensions in the Middle East and North Africa with unrest in Libya and Bahrain and tensions between Iran and Israel over the Suez Canal Be prepared to hedge your positions as the current low options volatility provides investors with long term portfolios opportunity to hedge their positions cheaply By Michael Hevern Head of Research Tags Asian Markets ASX ASX News Commodities Crude Oil European Markets FTSE Nasdaq Nikkei S P500 stock market Stock Market Analysis Trader Dealer trading US Market wrap Posted in Stock Market Analysis Trader Dealer News No Comments Traders and Triggering Bull Traps in this Market Friday February 25th 2011 The Aussie market has had a strong run since the early July trough with the recent peak in the S P ASX 200 rising 18 Traders are finally starting to take profits and appear to be heading for the exits as the deterioration in the global macro economic environment starts to bite We are seeing a turn in the momentum for the ASX market near term and this has given rise to a number of bull traps being triggered Traders have been pushing stock prices higher since the Santa Claus rally materialised in November Up until this week traders have chosen to ignore the global headwinds that have been simmering in the background such as geopolitical tensions in the Korean Peninsular political unrest and violence in the Middle East the continuing issues of European sovereign debt in the so called PIIGS economies global concerns over food inflation struggling consumer spending and China s struggle to control its runaway inflation Central banks around the world have been taking measures to address the economic issues including the US Fed Reserve s commitment to another round of quantitative easing QE2 the ECB in Europe committing to support the indebted PIIGS economies and in China the central bank has moved to raise the capital reserve requirements for its banks and increase rates in an attempt to reign in its inflation Traders have been looking for an excuse to take profits and the violence and unrest in Egypt Libya and the Middle East has provided the trigger to sell The spike in the crude oil price has the potential to derail the global economic recovery if energy prices remain at these elevated levels for any length of time A number of stocks in our local market have set up and or triggered bull traps as they have recently backed off key levels Traders have used this reporting season to reassess their view on particular stocks and use any positive move in the stock resulting from their earnings report as a chance to liquidate part or all of their positions Bull Traps A bull trap occurs when investors take on a long position when a stock is breaking out to new highs only to have the stock reverse and shoot lower This counter move produces a trap for the bulls and often leads to sharp sell offs The criteria for a bull trap set up 1 A prevailing long term down 2 A sharp correction that has moved quickly from its lows 3 Resistance where investors look for price rejection setting up a long squeeze The Bull Trap Set Up The bull trap set up is fairly basic Look for a trading range to be broken to the upside preferably with high volume The stock will need to get back below resistance within five trading periods then explode out of the bottom of the range The last component of the bull trap chart pattern is that the stock should have a wide price trading range This increases the odds that the stock will have room to trend lower in order to book quick profits The Market Psychology of Bull Traps Selling in the first wave will occur when the most recent swing low is exceeded This occurs because of the number of shorter term traders who have their stops slightly below the most recent swing low The second wave of selling comes into play once the medium term traders realise that this is not just a slight retracement and the move is likely to be more protracted This produces the second round of selling Bull Traps Trading Examples There are a number of prime examples of recent bull traps including Toll Holdings TOL in October IAG Insurance IAG in December Cochlear COH in January and WesFarmers WES in February Figure 1 Bull Trap Toll Holdings TOL October 2010 Back in October Toll Holdings TOL broke to the upside to a 3 month high but the bears then stepped in sending the price through the recent trading range within a few trading sessions completing the bull trap The volume did not provide confirmation for this trap but the selling continued with the stock dropping 20 percent in the following 3 months Figure 2 Bull Trap IAG Insurance IAG December 2010 IAG Insurance IAG recently broke to the upside to a 4 month high in December but the bears then stepped in sending the price through the recent trading range within a few trading sessions completing the bull trap The stock has dropped 11 percent in past couple of months The sellers persisted until the stock broke the key trading range support and the bears appear to be firmly in control now Figure 3 Bull Trap Cochlear COH January 2011 Cochlear COH recently broke to the upside to close at a 2 month high in January then saw follow through buying the next day as the bulls pushed the price higher But then the bears stepped in sending the price through the recent trading range within a few trading sessions completing the bull trap The stock has dropped 8 percent in the past month The sellers have pushed the stock below its key support level and the bears appear to be in control Figure 4 Bull Trap WesFarmers WES September 2010 and February 2011 WesFarmers WES recently broke to the upside trading at a 2 year high in February then saw sharp pullback as the bears stepped in sending the price through the recent trading range within a few trading sessions completing the bull trap The stock has dropped 5 percent in six trading sessions The sellers have pushed the stock below a key support level and the bears appear to be in control at these levels The Market Analyser software offers Pre Alerts which are proprietary indicators that identify impulses in volume accompanied by a decline D in price As shown in the accompanying charts these Pre Alerts used in conjunction with the standard Bollinger Bands are very accurate for identifying bull traps Conclusion Bull traps can develop in markets where there is panic buying or overconfidence as the stock prices move into key resistance levels The bulls are trapped because they are typically chasing the big moves in the market and are buying new highs as the price meets resistance Once the market starts to fall these new bulls try to extract themselves from the trap by selling That selling pressure feeds back into the bear market and amplifies the subsequent move back to the downside The question of course is whether a given reversal is really a bull trap or a legitimate reversal to the upside The way to trade these set ups is rather than attempting to pre empt the market by shorting or covering immediately you should typically wait for the market to begin rolling over to the downside Use the Market Analyser s proprietary Pre Alert Distribution Indicator to identify when a setup is imminent refer to the sample charts for examples A change in market momentum and sentiment appear to be underway and bull traps are not just an opportunity for swing traders looking for a trigger to trade the short side of the market They are useful for longer term traders as a signal to apply some risk coverage to their long positions either through hedging their positions or stepping to the sidelines Click here for a 14 day trial of Market Analyser By Micheal Hevern Head of Research Tags ASX ASX News Bull Traps Cochlear IAG Insurance Market Analyser MDS Financial Toll Holdings Trader Dealer Trader Dealer News Trading Software wesfarmers Posted in Stock Market Analysis Trader Dealer News No Comments Stock Market Analysis Market Sell Off Continues Friday February 25th 2011 Globally stock markets extended declines as violence increased in Libya a major oil producing state U S markets fell for a third straight day overnight as investors sold stocks in the wake of the Libyan unrest but the Nasdaq bucked the trend European stocks fell again overnight as crude oil prices continued to surge weighing on the markets Asian markets generally sold off again yesterday China bucked the trend ending slightly higher Commodities were generally lower Crude oil prices continue to rise on Middle East unrest The SPI Futures is trading below the key level of 4850 and closed down 0 3 or 14 pts at 4 778 The key levels for our index today are 4830 and 4730 M A activity continues to drive specific stocks The ASX is set to trade lower today but there may be some added volatilty early as we settle options positions We will continue to focus on local earnings reporting this week and we had generally negative leads from overseas markets Investors need continue to monitor the escalating tensions simmering in the Middle East and North Africa with unrest in Libya and Bahrain and tensions between Iran and Israel over the Suez Canal See below for stocks in the news today U S Markets With the exception of the Nasdaq U S markets fell for a third straight day overnight as investors worried over the surge in oil prices resulting from the violence and unrest in the Middle East Investors are concerned that the rising crude prices will hurt consumer spending and ultimately slow down the global economic recovery and that the turmoil could spread to other oil exporters in the region The S P 500 index saw selling in every sector though some sectors finished in the green The Dow Jones has experienced its biggest 3 day drop since mid August The energy sector posted a sharp drop weighed down by refiners as oil is a refinery s largest input cost The declines came as the crude oil futures price spiked above US103 as Libyan rebels controlling large areas within the country promised an offensive against the capital Tripoli In economic news the data was mixed with initial jobless claims falling more than expected while durable goods orders rose higher than expected up 2 7 in January driven by a surge in demand for airplanes and after three straight declines New orders for non defense capital goods excluding aircraft declined 6 9 last month while the monthly sales of new homes was weak and has reversed most of the previous month s gains Corporate earnings reports were mixed Priceline com posted a 73 jump in 4Q profit as a jump in international bookings drove top line growth and margins surged Target the retailer reported 4Q earnings up 11 as revenue improved benefiting from sharply lower bad debt expense at its credit card arm GM reported 510 million in 4Q net income below expectations The Dow closed down 0 3 or 37 points at 12 068 while in the broader market the S P

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  • 2011 January | Online Stockmarket Trading Update
    in an attempt to quell the riots in the street and army tanks combed the streets to beat back crowds of protesters Egyptians are protesting their suffering from food inflation of 10 per annum and the fact that they have to spend 66 of their consumer spending on food The Egyptian leader has since annonuced that the Egyptian government will resign In London the FTSE 100 index closed down 1 4 or 84 points at 5 881 down 0 3 for week the German DAX down 0 7 or 53 points at 7 103 up 0 6 for week while in France the CAC was down 1 4 or 57 points at 4 022 down 0 4 for week Asian Markets Asian markets ended mostly lower Friday but mixed for the week The Japanese market slid after Standard Poor s cut the country s sovereign debt rating for the first time in 9 years cutting the credit rating to AA from AA This spurred broad profit taking from financials and the technology exporters and South Korea s Kospi slipped 0 3 on risk aversion Disappointing corporate earnings pushed the Hong Kong market lower while the Chinese Shanghai Composite edged higher Large cap China property developers extended recent losses after two of China s largest cities introduced property tax trials The Indian Sensex dropped led by declines in interest rate sensitive sectors amid continued concerns about inflation after data released Thursday showed food inflation above 15 for a fourth week Auto shares fell on concerns that rising interest rates high fuel prices and soaring input costs will hurt profits in coming quarters Miners and energy stocks drove the region s stocks lower Gold miners led the drop after the price of the precious metal fell to a near 4 month low However the gold price did bounce over the weekend This week China will report on its PMI data and will have a shortened trading week due to the Lunar Near Year celebrations In China the SSE Composite closed up marginally 0 1 or 4 points at 2 753 up 1 4 for week while in Hong Kong the Hang Seng Index was down 0 7 or 163 points at 23 617 down 1 1 for week and in Japan the Nikkei 225 Index was down 1 1 or 118 points at 10 360 up 0 8 for week Commodities The Dollar Index was up marginally 0 2 at 78 13 on a lower Euro while the Australian Dollar last traded flat at 99 28 Commodities were generally higher led by crude oil which has bounced higher For the session the Benchmark crude NYMEX for December delivery was up sharply 4 3 or US3 70 to settle at US89 49 up 0 4 for week Copper prices backed off around 2 year highs and copper for December delivery was up 0 8 or 3 4 cents at US4 3495 up 1 0 for week Gold prices were off all time highs again with December gold up 1 7 at US1 338 00 down 0 4 for week ASX Market News AFI Australian Foundation Investment Company increased its 1H11 profit 30 6 percent as many companies increased dividends as operating conditions and cash flows improved AGO Atlas Iron is on track to double its export rate by the end of 2012 and is currently generating its strongest ever cashflows with spot prices of over US150 per wet tonne ALS Alesco Corporation s 1H11 profit plunged 82 percent as the seller of building products to truck tyres took an impairment charge against its water products division BPT Beach Energy says revenue rose 16 percent in the 4Q due to higher realised oil prices despite of a 7 percent fall in production CCC Continental Coal says it has received Kenyan government permission to take part in coal exploration and development of the country s Mui coal basin 180km northeast of Nairobi CNA Coal Allied the Rio Tino Ltd managed coal miner has reported a jump in annual net profit despite wet weather hampering production late last year CXY Cougar Energy has shelved its underground coal gasification UCG plant in the Queensland s southeast causing the company to halt trading on the sharemarket after a Queensland government directive Other companies that may suffer from the decision include LNC down 6 6 and CNX down 8 1 ERA Energy Resources of Australia has reported an 83 percent plunge in calendar year net profit and will temporarily suspend processing operations at its Ranger mine in the NT Shars fell 12 9 HOR Horseshoe Metals Ltd shares have tripled after a high grade copper strike at its flagship project in WA ILU Iluka Resources Ltd has discovered an inferred resource of 3 3 million tonnes of heavy mineral for the Atacama deposit in its South Australian Eucla Basin Shares fell 4 2 LNG Liquefied Natural Gas has confirmed it has agreed to sell a 20 percent stake to Chinese state owned oil and gas giant CNPC for around 25 6 million Shares rose 10 MYX Former Woolworths CEO Roger Corbett has been elected chairman of pharmaceutical company Mayne Pharma Ltd GOLD Gold stocks were slammed Friday after the price of the precious metal slipped NCM down 3 6 MML down 7 7 RMS down 5 DOM down 7 6 KCN down 6 6 NWS Takeover canidate BSkyB announced soaring profits as the British pay TV giant awaits a possible full takeover by News Corp News will launch its new iPad only newspaper The Daily this week RMD ResMed the medical equipment maker increased 1H11 net profit 31 percent as demand for sleep disorder breathing products grew SLR Silverlake Resources the gold miner is on track to meet full year production guidance after strong output in the December quarter Shares rose 10 TEN Network Ten Holdings Ltd has invested in The Roar Sport Media for an undisclosed sum website for The Roar www theroar com au WPL Woodside Petroleum has signed a deal with Malaysia s Petronas for up to 19 cargoes of liquefied natural gas LNG from its Pluto project in WA Local Corporate Reporting AWE Australian Worldwide Exploration December Quarterly Report ORG Origin Energy Ltd Quarterly Production Report ROC Roc Oil Ltd Q4 2010 Activities Report CRG Crane Group Ltd Interim 2011 Results WES Wesfarmers Ltd Q2 2011 Sales NEC Northern Energy Corporation Full year 2010 Results PLA Platinum Australia Limited December Quarterly Report Market Summary ASX to open lower US UK Europe sell off US ADRs Broadly Lower BHP down 2 4 RIO down AWC down 3 4 ANZ down 0 9 NAB down 2 1 NEM down 0 7 JHX down 1 7 NWS down 2 1 Commodities Stock Index down 0 7 Gold Stocks Index up 0 4 Oil Stocks Index down 0 9 By Michael Hevern Head of Research Tags Asian Markets ASX News Crude Oil European Markets gold price S P500 Stock Market Analysis trading US Market wrap Posted in Morning Wrap Stock Market Analysis 1 Comment Trade Selection Using Market Analyser Friday January 28th 2011 Two Ways To Trade The Market Analyser software is a powerful product that can assist you with making your trading decisions This week we look at two relatively simple methods to help you in your trade selection how to approach trading the markets and developing a trading strategy Method 1 Analyse a Market or Sector for Trades The first step is to determine a particular setup that provides a high probability of profitable trades Once that s done then we can search the market to find a share or sector that has these setup characteristics For our first example we ll look at using Bollinger Bands A trade setup can be a close outside a Bollinger Band indicating an oversold or overbought condition that suggests a likely reversal in the price movement A search can then be conducted using the Analyser tool in Market Analyser to identify the possible trades for today Method 2 Focus on a Single Share or Index The second approach focuses much more narrowly on just one share index or commodity then uses a variety of different indicators to determine the likely direction of the trade Trades are always executed on the same underlying instrument when a clear direction is signalled by the indicators that are being used For example a trader may trade the Aussie200 and look at MACD seasonal patterns and the rate of change When these are all lined up the trader takes a trade in the direction outlined by their indicators Start Trading Choose one of these approaches and then determine which market or markets you are going to trade Start by focusing on only one or two ideas at a time and add to your strategies as your confidence and experience grows Focus on the trade of these setups rather than attempting to pre empt the market and use the Market Analyser to identify trades that meet your entry criteria By Jeff Cartridge Education Manager Sign up for a free 14 day trial of Market Analyser or call our friendly Customer Care team on 1300 363 766 Tags bollinger bands Jeff Cartridge Market Analyser Stock Market Analysis Trader Dealer trading Trading Software Posted in Stock Market Analysis Trader Dealer News Trading Software No Comments Stock Market Analysis Weekly Market Wrap January 28 2011 Friday January 28th 2011 Markets Drift Higher as Inflation Reemerges The Australian market has traded sideways this week following subdued leads from overseas and the shortened trading week has meant that trading volumes were again below average The market is still digesting the impact of the devastating floods and the proposed flood levy with retail stocks coming under pressure again Downer EDI disappointed again and we had some unsurprising production data from our miners showing production fell due to the floods However earnings have been supported by the elevated commodities prices US Markets The US markets have been drifting higher this week with the S P500 index rising to the 1300 level for the first time since June 2008 Corporate earnings reporting continues to support the view that the recovery remains intact The Federal Reserve left rates on hold but said that the jobless recovery still needs the QE2 support It also reaffirmed its commitment to the US600 billion treasury buying program Also giving investors something to think about were comments from President Obama in his State of the Union address in which he confirmed that the US s ballooning government deficit and public spending are unsustainable President Obama called for Congress to lower the corporate tax rate by closing industry specific loopholes and find spending cuts across the government suggesting a 5 year freeze on non defense discretionary spending The corporate reporting season continues into next week and fourth quarter GDP figures are due for release tonight Overnight the Dow closed flat at 11 990 while in the broader market the S P 500 index was up 0 2 at 1 300 and the tech heavy Nasdaq ended up 0 6 at 2 755 European Markets European markets began the week under pressure over sovereign debt concerns but as the week progressed they joined the US in drifting higher with investors choosing to focus on good news out Germany and the United States In economic news the European Commission s measure of confidence among manufacturers rose to 6 0 up from 4 9 driven by rising orders particularly for exports In Germany import prices rose 12 percent in December the fastest annual pace since 1981 driven by soaring costs for commodities including energy and metals For the year energy prices rose 34 percent and iron ore prices jumped 98 percent while non iron ore metals rose 38 percent This news is proving to be a dilemma for the ECB as Germany s booming economy and rising commodities prices are fueling euro zone inflation just as the ECB is battling to combat the debt crisis in the PIIGS economies which is dampening growth Overnight in London the FTSE 100 index closed slightly down 0 1 at 5 965 while the German DAX was up 0 4 at 7 156 and in France the CAC was also up 0 3 at 4 079 Asian Markets Asian markets continue to be driven by apprehension that China will be required to further tighten its monetary policy in order to reign in its inflation and caution ahead of the Chinese Lunar New Year The Chinese government has in fact introduced further measures to cool the sector raising the minimum down payment on second home purchases to 60 from 50 on Wednesday Bargain hunters have stepped into the Chinese market in the last couple of sessions pushing materials and financial stocks higher but property stocks have sold down The Japanese markets are likely to be weighed down today after the Standard Poors rating agency cut Japan s long term sovereign debt rating by one notch to AA from AA overnight its first downgrade in nine years Yesterday in China the SSE Composite closed up 1 5 at 2 749 while in Hong Kong the Hang Seng Index was down 0 3 at 23 780 and in Japan the Nikkei 225 Index was up 0 7 at 10 479 Our View Next week we should start to see trading volumes pick up as we focus again on US corporate earnings and local corporate reporting China will celebrate Lunar New Year but investors need to continue to monitor China s response to their recent strong economic data The S P ASX200 is trading at 4790 below its key weekly resistance level 4840 which has been in place since November Use the Aussie dollar as a leading indicator for our market and be wary of the Chinese government s position on interest rates near term Key levels for next week will be 4840 to 4740 Be prepared to hedge your positions because due to the current low options volatility investors with long term portfolios can hedge their positions cheaply By Michael Hevern Head of Research Tags Asian Markets ASX ASX News European Markets Stock Market Analysis Trader Dealer US markets Posted in Stock Market Analysis Trader Dealer News No Comments Trading Book Review Trading With Candlesticks Friday January 28th 2011 Trading With Candlesticks Michael Thomsett RRP 39 95 Trader Dealer Price 33 95 Trading book review by Janene Murdoch from the Educator Investor Bookshop This book shows you how candlesticks work how to interpret them and how to use them It is packed with visual examples definitions checklists and charts and shows how to identify emerging price movements trend reversals confirmations and impending signal failures For investors at all levels of experience Want to consistently outperform other traders Candlestick charts represent one of the most valuable tools available to you As savvy traders around the world have discovered candlesticks can help you more effectively anticipate stock price trends and improve the timing of every buy and sell order you place In Trading with Candlesticks best selling author Michael C Thomsett completely demystifies candlesticks Using plain English and easy to understand visuals Thomsett shows how they re constructed how to decode them and how to apply them in real trades You ll start with the absolute basics and then discover how to recognize subtle moves and patterns you never knew existed Next Thomsett reveals how to combine candlesticks with other technical indicators to sense market signals even more reliably Whether you re a day trader swing trader speculator or long term investor candlesticks offer you a powerful edge and this book makes them easier to use than ever before This book is available from the Educated Investor Book shop If you would like to order this book please visit The Educated Investor Bookshop website By Janene Murdoch Educated Investor Bookshop Tags Educated Investor Bookshop Michael Thomsett Trader Dealer Trader Dealer News trading Trading Book Review Trading with Candlestocks Posted in Trader Dealer News Trading Books No Comments Stock Market Analysis Markets Continue to Drift Higher Friday January 28th 2011 U S markets again drifted higher overnight with the Dow Jones and S P 500 ending around their key levels of 1200 and 1300 respectively Sentiment was driven by corporate earnings the Fed reaffirming its commitment to QE2 and a surprise jump in applications for unemployment benefits European shares again edged higher overnight after the European Commission s measure of confidence among manufacturers rose to 6 0 from 4 9 driven by rising orders especially for exports Asian markets ended mostly higher yesterday as the Chinese market finished higher led by resource stocks However the Japanese market is likely to trade lower today after its debt rating was downgraded overnight Commodities prices were mixed The SPI Futures is testing key level of 4800 closing up marginally 0 2 or 11 pts at 4 791 The key levels for our index today are 4850 and 4750 M A activity continues to drive specific stocks The ASX is set to trade higher as we had generally positive leads from overseas markets Energy and materials are likely to be active today with trading volumes elevated early due to options exercising See below for stocks in the news today U S Markets U S markets again drifted higher overnight Sentiment was driven by corporate earnings the Fed s reassurance that it is committed to QE2 and a surprise jump in applications for unemployment benefits up to 454 000 its highest level since late October The Dow Jones and S P 500 ended around their key levels of 1200 and 1300 respectively levels not seen since June 2008 The Fed has left interest rates on hold at 0 25 percent where it has been since December 2008 and said it is committed to leaving the rate exceptionally low for an extended period The Fed also noted that the jobless recovery is still underway but the U S economy s

    Original URL path: http://blog.traderdealer.com.au/2011/01/ (2013-02-02)
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