CFD Intraday Trade Idea – Origin Energy (ORG)

Selection of stocks likely to move on an intraday basis.

Our preference: as long as 15.5 is a resistance, we are bearish with a target at 14.5. Alternative scenario: a break above 15.5 would open the way to 15.8.

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Tricom Today ASX Stock Market Report 24-2-09

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The market is down 40 doing a bit better than the 78 point fall predicted by the SFE Futures this morning post the significant 3% plus falls in the US overnight. Property down the most again down 3.2% – Goodman Group down 12% early – had its recommendation cut by Macquarie Group yesterday after a recent profit warning. Results tomorrow. BHP and RIO down 1.6% and 1.8%. Industrials down 2.3% – Wesfarmers and Fosters down having gone ex dividend this morning. AMC and ASX also Ex dividend. Sonic Healthcare down 1.5% early on posting 1H NPAT up 21% to $136.5m. Aristocrat Leisure up 2.0% on the open posting FY NPAT of $101.2m down 59.1%, with final dividend to be 10c (already had a profit warning). Spark Infrastructure Ltd down 1.19% after posting a large fall in FY profit. Financials down 1.9% – Suncorp-Metway down 6% early on posting 1H NPAT of $258m, down 33% on-year with the CEO leaving next week. Macquarie Countrywide posted an in-line 1H NPAT loss of $714.1m with an interim distribution of 4c down 12% on the open. Macquarie Media booked a 1H net loss of $127.3m down 2.7% early. CBA is down 2.5% and underperforming the other banks today having announced they’d buy $2.25bn of Wizard Home Loan’s portfolio from GE, less than the $4bn worth previously suggested. Resources down 1.5% – Energy stocks
generally down on the lower oil price – Origin Energy up 0.3% as their 50.4% owned Contact Energy (NZ) posted in-line 1H NPAT down to NZ$25.1m. Oil Search Ltd posted FY NPAT up 128% to US$313.4m down 0.2%. Australian Worldwide Exploration Ltd posted a 15% rise in 1H NPAT up 1.8%. Gold stocks mixed despite lower gold price – Sino Gold Mining posted net loss of $101.4m for the half up 1.6% early. St Barbara down 1.2% as it completes its share placement of $75m at 41c/share and posts 1H NPAT loss of 41.2m.