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IDS World Markets Mon 2nd August 04


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Talk about a lost weekend. Sat I spent socializing and yesterday being windy and rainy, I loaded up Railroad Tycoon 3 which I bought some time ago and have been dying to play. Wow, those 3D graphics, magic... What I should have been doing is sorting and packing, as I'm due to move in a couple of weeks, but how boring are those tasks...

 

To the market:

 

t?s=^AORD

 

I did a sift thru the monthly charts this am and most the blue chips are still in a screaming uptrend although 3 of the banks have changed to a downtrend. The index had a bit of a wobbly start today but finally moved into green, currently +0.1%. Looks like we're gonna give that record high a retest some time this week.

 

Golds zooming up, +2-3% and oils ditto, +1-2%.

 

Asia opening in the red:

 

t?s=^N225

 

t?s=^KS11

 

t?s=^STI

 

t?s=^TWII

 

t?s=^SSEC

 

t?s=^HSI

 

t?s=^BSESN

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ISP probs this arvo but it all seems to be running smoothly now. Well, yes, it was up all day here, closing +0.2% and now the index has the record closing high of 3562.8 in its sights, only 8 points away.

 

Asia on the other hand, went nowhere at all, with most the majors closing in the red, apart from India.

 

Europe red so far:

 

t?s=^FTSE

 

t?s=^GDAXI

 

t?s=^FCHI

 

And Brown One's AEX down almost 1%....

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Mornin'/evenin' Aussie.

 

Europe not looking too happy but looking at the near panic to hold the FTSE above 4400,we're probably not going down too far.

If our c/p ratio is anything to go by though,we should lose another 20 points this month as these up spikes are usually followed by some serious downside.The last one at the start of July was--so it'll be interesting to see if this is a useful indicator.

 

Funny thing about computer games--they're a bit addictive!I always swore I'd never have them on my puter but my bro-in-law gave me a very simple one a couple of years ago.Graphics were nothing compared to today's games,but I couldn't stop playing it.Eventually,I couldn't improve on my highest score-so it was boring and I deleted it!

post-3-1091437409_thumb.gif

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