Running very late today having done the early slot on Sky Biz, so I will just wish everyone a happy 2014.
Few things overnight
1.We are massively addicted to what the Central Banks do..last night the Fed chiefs soothed the market about tapering and the rally continues.
2.Gold got smashed again below $1200 and some predictions of $800..in fact it’s a toss up whether Apple gets to $300 bucks before Gold gets to $800.
3.More job cuts, more write offs and downgrades..KCN latest to announce issues.
4.More strength today as we have year-end and the rally in banks/industrials continue higher. Maybe time to look at BHP again too..Iron Ore holding up although Copper struggling.
5.Rudd back is clearing the air a little and negativity dissipating.
6.Dividend yield never goes out of fashion..witness the rally in the banks and TLS. Have been writing about this is the place to be for some days now.
7.160 points in two days!!!The Rudd factor at work..he is a genius…and with one bound he can leap a tall building…nah!..it’s the Fed Kev, not your magic touch!!
8.Despite the credit crunch having less bite in China the equity market there is still struggling to make headway…
Expect a more muted day today in the market..can’t have 80 up days every day after all…still believe we have more sideways movement between now and the election whenever that will be!
Enjoy the weekend and back to normal next week.
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