Rather Mixed
August 13th 2006 12:53
The market for the past week experienced a true roller coaster ride giving out mixed signals of where the market is heading for the short term. The ASX S&P 200 benchmark index Friday shed 0.1% after a day of volatile movements. The earnings season did not kickstart the week well and was affected by the outlook of the US economy as the maintained rate there was interpreted as a possible economic slowdown. Any slowdown or recession in the US will spell gloom for the world especially Australia of which its market is highly correlated to that of the US. The recent terrorism scare in the UK added more salt to the market wounds. On the lighter side, a PhD candidate in a Melbourne CBD based university could be sitting particular tight watching this event given that the "pet" topic is at "work".
On the local front, CBA earnings report was impressive as ever but analysts did not take it too well citing it has alot to do to improve its customer service and retail banking base. Personally, I feel the CBA customer service is OK but its net banking is a complete disaster in terms of security. With key logging and phishing techniques making leaps and bounds by the day, CBA's net banking username and password system belongs to the ice age. I know an international bank which implemented a security system recently that requires user to own a physical pin generating device to generate a pin each time one logs into net banking account and all together; 3 layers of security: username, standard password and pin from the device. Perhaps, CBA has forgotten that is has "retail customers".
Back to The Portfolio, as of Friday gained $47.50, all thanks to a good performance from TPI which so far earned $310 while OEX tumbled -$185. CSI shed -$47.50 and CCI saw no movements, remaining at a loss of brokerage fee of $30.
On the local front, CBA earnings report was impressive as ever but analysts did not take it too well citing it has alot to do to improve its customer service and retail banking base. Personally, I feel the CBA customer service is OK but its net banking is a complete disaster in terms of security. With key logging and phishing techniques making leaps and bounds by the day, CBA's net banking username and password system belongs to the ice age. I know an international bank which implemented a security system recently that requires user to own a physical pin generating device to generate a pin each time one logs into net banking account and all together; 3 layers of security: username, standard password and pin from the device. Perhaps, CBA has forgotten that is has "retail customers".
Back to The Portfolio, as of Friday gained $47.50, all thanks to a good performance from TPI which so far earned $310 while OEX tumbled -$185. CSI shed -$47.50 and CCI saw no movements, remaining at a loss of brokerage fee of $30.
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