Guest Posted March 4, 2004 Report Share Posted March 4, 2004 A rocky start but confidence expanding rapidly with All Ords +0.2% and heading higher. The index determined to test those 2002 all time highs, sooner the better imo then we might finally see a retracement. The banks and Newscorp the main market drivers today, up around 0.8%. Volume ok for the time of day. Golds still moving lower with the exception of Lihir which did an abrupt turnaround on big volume, +1.9%, possibly some good news attached to that one. In the oils Santos being dumped, -2.9% and Woodside flat. Nikkers streaking up, +0.7%. Link to comment Share on other sites More sharing options...
Guest Posted March 4, 2004 Report Share Posted March 4, 2004 S&P Nazza Link to comment Share on other sites More sharing options...
Guest Posted March 4, 2004 Report Share Posted March 4, 2004 It was just one big distribution top intraday with the market fizzling into close. All Ords managed to eke out 0.7 (flat), same story as yesterday. Not a time to be long but on the other hand too soon to be short. Hmmm... Golds looking a bit better with Lihir and Newmont at least closing flat. Newcrest dipped another 1.7%. Oils not doing so well with Santos -3% and Woodside down a touch. Nikkers off the highs, +0.4%, Singers +0.5%, Honkers -0.3%, Sth Korea and Taiwan doing better, +1.3% and 1.5% respectively. Link to comment Share on other sites More sharing options...
Guest Posted March 4, 2004 Report Share Posted March 4, 2004 Australian Building Approvals Down In Jan SYDNEY, March 4 Asia in Focus - Australian building approvals slipped 3.3 per cent in January, seasonally adjusted, from a 1.5 per cent drop in December, the Australian Bureau of Statistics said. In the year to January building approvals fell 2.8 per cent. Link to comment Share on other sites More sharing options...
The brown one Posted March 4, 2004 Report Share Posted March 4, 2004 This market looks like it couldn't fight its way out of a wet paper bag.It's limp and droopy.Effectively it's been propped up recently by Unilever and RD Shell but the bonkers and Philips seem to have already reached a plateau and appear to be going nowhere for quite some time. Naturally,this could all change in an instant this afternoon when the ECB announces the results of its deliberations.As they're not going to raise rates,they either remain the same or go down--and then the stupidity starts anew.Was it priced into the market already or not--blah,blah,blah. Gives Crapvision another 12 hours worth of soundbites to be repeated ad nauseam with various guests until something else more interesting comes along! Give 'em bread and circuses or as they would likely say in Surinam--Let them eat coke! Technically, the index doesn't look too hot with quite a bit of indicator divergence on the recent highs.Hourly and daily stochs also at a high and look to be rolling over while the weekly has already dropped from its permanently high plateau. But,as we bears know to our cost,divergences don't mean what they used to and a completely contrarian decision would be the profitable one--ie. you can't wup Al and da Boyz. Will notify of any sudden change in boredom threshold. Link to comment Share on other sites More sharing options...
The brown one Posted March 4, 2004 Report Share Posted March 4, 2004 Nothing further to report from this side of the pond. Seems like there's an absolute terror of allowing this market to go down.So it just won't.But there is also no sane reason for it to go up--so,I guess it's stalemate. Link to comment Share on other sites More sharing options...
Guest Posted March 4, 2004 Report Share Posted March 4, 2004 . . . . . . . . . . . . . . . . . . . . Link to comment Share on other sites More sharing options...
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