aussiebear Posted March 1, 2010 Report Posted March 1, 2010 Up for starters but now doing the u-turn. All Ords +0.2% with smallish gains in the sectors. REITS +1.2% is in the lead followed by Healthcare +0.5%. On the downside, Consumer Staples/Utilities -0.4% and Energy -0.3%.
aussiebear Posted March 1, 2010 Author Report Posted March 1, 2010 http://finance.yahoo.com/intlindices?e=asia
aussiebear Posted March 1, 2010 Author Report Posted March 1, 2010 http://money.cnn.com/markets/morning_call/ http://www.kitco.com http://www.kitconet.com/webcharts/base_metals.html Energy futures
aussiebear Posted March 2, 2010 Author Report Posted March 2, 2010 Australia Raises Key Interest Rate to 4% March 2 (Bloomberg) -- Australia’s central bank resumed raising interest rates after a one-meeting pause, judging that the economy is strong enough to withstand any impact from global investor concerns on sovereign debt risks. Reserve Bank Governor Glenn Stevens increased the benchmark overnight cash rate target to 4 percent from 3.75 percent in Sydney today, as forecast by 14 of 19 economists surveyed by Bloomberg News. The rest predicted no change. Today’s decision may support Australia’s dollar, the best- performing major currency in the past year, and it reflects the strength of an economy that escaped recession during the global crisis. The biggest jobs boom in more than three years, a jump in house prices and a business-confidence rebound put pressure on Stevens to return rates toward what he calls a “normal” level. ------------ Australian Retail Sales Increased 1.2% in January March 2 (Bloomberg) -- Australian retail sales rose in January, rebounding from the biggest decline in 10 months and adding to signs of an economic recovery that may prompt the central bank to boost borrowing costs today. Sales advanced 1.2 percent from December, when they fell a revised 0.9 percent, the Bureau of Statistics said in Sydney today. The median forecast of 19 economists surveyed by Bloomberg News was for a 0.5 percent increase. ------------- Australian Building Approvals Dropped 7% in January March 2 (Bloomberg) -- Australian home-building approvals fell in January for the first time in five months as the government reduced grants to first-time buyers and the central bank boosted borrowing costs. The number of permits granted to build or renovate houses and apartments decreased 7 percent from December, when they gained a revised 5.2 percent, the Bureau of Statistics said in Sydney today. The median estimate of 19 economists surveyed by Bloomberg was for a 1 percent gain. Home-building approvals surged in the second half of 2009 after Prime Minister Kevin Rudd tripled grants to first-time buyers of new homes to A$21,000 ($18,900) and the central bank cut borrowing costs to a half-century low of 3 percent in April. The grants were reduced to A$7,000 on Jan. 1 and Governor Glenn Stevens began the first of three interest-rate increases in October.
aussiebear Posted March 2, 2010 Author Report Posted March 2, 2010 Japan’s Unemployment Rate Unexpectedly Falls to 4.9% March 2 (Bloomberg) -- Japan’s unemployment rate unexpectedly fell to a 10-month low in January as the economy added the most jobs in more than 30 years. The jobless rate dropped to 4.9 percent from a revised 5.2 percent in December, the statistics bureau said today in Tokyo. The median forecast of 25 economists surveyed by Bloomberg News was for the rate to be unchanged from a preliminary 5.1 percent.
aussiebear Posted March 2, 2010 Author Report Posted March 2, 2010 Not a big day for the index but many of the smaller stocks and speculative plays were receiving attention. All Ords closed +0.3% with REITS continuing to lead, +1.1% followed by Gold +1% and Miners +0.6%. Little movement in Asia: China -0.3%, Honkers -0.8%, India +1.4% and Nikkers +0.3%. On to UK/Europe: Footsie DAX CAC 40
Lemur Posted March 2, 2010 Report Posted March 2, 2010 S+P still reaming the bears this morning. But things are quite overbought so looking at scaling into shorts here.
fxfox Posted March 2, 2010 Report Posted March 2, 2010 Dow CFD hourly lets be honest folks, if that above chart would just be inverted, EVERYONE would say "this is a MEGA top! We are gonna go down big time!" Dont say it aint so.
Lemur Posted March 2, 2010 Report Posted March 2, 2010 Dow CFD hourly lets be honest folks, if that above chart would just be inverted, EVERYONE would say "this is a MEGA top! We are gonna go down big time!" Dont say it aint so. Well short term - hourly charts, we are over bought on the indicators and at the top of the bollinger bands on the daily. No doubt there were quite a few stops parked above 1120 (S&P). I shorted into that spike on the S+P above 1120. Lets see if we got a intermediate top. A trip back down to 1100 would not surprise.
fxfox Posted March 2, 2010 Report Posted March 2, 2010 Well short term - hourly charts, we are over bought on the indicators and at the top of the bollinger bands on the daily. No doubt there were quite a few stops parked above 1120 (S&P). I shorted into that spike on the S+P above 1120. Lets see if we got a intermediate top. A trip back down to 1100 would not surprise. well, how short is "short term"? A breakout of an inverted hourly SHS should not only be respected by daytraders, but also by swing traders. A SHS on hourly chart is good for several hundred points. Yet, we have not broken out yet. See, if it would be the other way around would you still say "Well short term"? I think you would say "ok, we go down now. Big."
fxfox Posted March 2, 2010 Report Posted March 2, 2010 Caribbean hedge funds waking up? :lol: http://www.youtube.com/watch?v=V2EOzaEWsyo how fitting! :lol:
Lemur Posted March 2, 2010 Report Posted March 2, 2010 well, how short is "short term"? A breakout of an inverted hourly SHS should not only be respected by daytraders, but also by swing traders. A SHS on hourly chart is good for several hundred points. Yet, we have not broken out yet. See, if it would be the other way around would you still say "Well short term"? I think you would say "ok, we go down now. Big." Short term = hourly charts. S&P breakouts fail more often than not anyway. Many of them painted by pit traders as in that example I gave yesterday.
Lemur Posted March 2, 2010 Report Posted March 2, 2010 I think you would say "ok, we go down now. Big." No, I avoid 'convictions' about the market. Though I am not quick enough to change my bias.
Recommended Posts
Archived
This topic is now archived and is closed to further replies.