Its Monday and it did
July 24th 2006 10:14
The weekend actually opens a window for investors and speculators some breath of fresh air, chill out and think over thier next moves or take time to digest the previous week market and economic movements, absorb and process information and finally load thier ammunitions for a new week of trading. The previous week saw China's economic train was speeding too fast which prompted the Chinese government to force banks to tighten credit which spells frown for Australia. And it did. The good news is bad news.
The market on monday was sluggish and went south, heavily weighted down by resource stocks due to falling base metal prices and the looming inflation hike sentiment. Over the weekend, I raised a watch signal for BHP Billion and Rio Tinto, expecting them to fall, and it did, with BHP having lost 3 percent ending at $27.32 and Rio down by $1.79 to $72.01. Damm, should have did some short selling. Just kidding, because short selling here s not a natural phenomenon but a privilege that is decided by the ASX.
The market over the week would probably be waiting for the "expected" interest rate hike by the RBA and till then, movements would probably mirror world markets, particular the USA and perhaps, would be affected further by falling prices of base metal and, if the Mid-East conflict escalate into a full scale war.
*Note: This is not a financial advice
The market on monday was sluggish and went south, heavily weighted down by resource stocks due to falling base metal prices and the looming inflation hike sentiment. Over the weekend, I raised a watch signal for BHP Billion and Rio Tinto, expecting them to fall, and it did, with BHP having lost 3 percent ending at $27.32 and Rio down by $1.79 to $72.01. Damm, should have did some short selling. Just kidding, because short selling here s not a natural phenomenon but a privilege that is decided by the ASX.
The market over the week would probably be waiting for the "expected" interest rate hike by the RBA and till then, movements would probably mirror world markets, particular the USA and perhaps, would be affected further by falling prices of base metal and, if the Mid-East conflict escalate into a full scale war.
*Note: This is not a financial advice
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