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TRADER DEALER NEWS |
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MARKET WRAP
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Edition Number
23
Dear
%%FirstName%%,
Welcome to this week's edition of the Trader Dealer e-newsletter!
We are delighted to launch our new look e-newsletter. This change reflects our continued commitment to provide great service to our Trader Dealer customers.
As always you can be assured of expert market analysis from our trading and research team, ASX losers and gainers of the week, a very handy financial calendar, a weekly market wrap, and a range of other insights and strategies to help you tackle the market head on.
Trader Dealer is also delighted to announce our fantastic new online trading platform, Rapid Trader, is now live. And to celebrate we are giving every Rapid Trader account free live ASX data until June 2010.
If you already have an account with Trader Dealer, all you need to do is to call us on 1300 130 545 or email us at info@traderdealer.com.au to get your free Rapid Trader account login.
If you are not yet a client of Trader Dealer simply visit our website www.traderdealer.com.au, go to the Join Us page to complete our simple online application form and be among the first to experience this new trading platform with free live ASX data until June 2010! As you can tell we are very excited about the launch of our newest trading platform. It caps off a busy few months in which we have also launched our new brokerage price of $19.50 as well as updating our website and giving our logo a fresh new look. We have more great plans over the coming months and we would like to take the time to thank all our customers for their continued support of the Trader Dealer journey.
If you have any comments regarding the new look e-newsletter we would love to hear them so please e-mail us at info@traderdealer.com.au.
Happy trading and bye for now! Damian Isbister
CEO – Online Software and Trading
MDS Financial Group
Trader Dealer Online
http://blog.traderdealer.com.au
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Focus turned to Europe this week with concerns that Greece may default on sovereign debt. This reduced the appeal of the Euro which in turn supported a higher USD and ultimately some commodity weakness early on. Overnight we saw confirmation that Greece was going to receive EU support to cover 53 billion Euros in debt refinancing this year.
There has been some speculation that other EU countries may follow suit, however we feel this is unlikely. Greece has had structural inefficiencies for quite some time largely on the back of an inadequate tax regime and this has collided with cyclical weakness to put significant pressure on the government balance sheet.
Increased confidence from the declaration of EU support prompted some reallocation back into risk assets, such as commodities overnight, and this was supported by relatively strong company reports from BHP and Rio Tinto. Both miners booked significant improvement in the second half with the strong bounce in commodity prices supporting the recovery. Rio was particularly upbeat last night about the $800 million turn around in its aluminium division. which is benefiting from a combination of higher prices and increased demand.
The local banks have continued to under perform the broader market, and this could be put down to some regulatory uncertainty in the sector while the cost of funds is still putting pressure on margins (so Ralph Norris says). Whatever the case, we’re starting to see valuations come back into an attractive range and a strong result by CBA offers support to the sector.
Our
View
Very encouraging to see the market hold above the critical 4500 support level, particularly given the headwinds from international markets. Employment data out this week was very upbeat and we can now assume unemployment has peaked in Australia. We’re cautiously bullish on the market given a combination of encouraging technical structures supported by improving economic data.
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ASX 200
Source: Market Analyser -
Gold
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ANALYST'S EYE |
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Time's up - the ASX is at a Crucial Juncture
Back on December 16th we talked about time and money working on the Aussie share market, and it is now time to evaluate how things played out, and what we may be in store for. We suggested in the article that volumes would be subdued into early 2010. Now volumes are picking up and volatility is on the rise.
In the article we identified that “the market will need around 120 days (from early October) to build enough momentum for its next move”. We have now traded around 110 days since the recent October peak and are entering into a crucial price and time inflection point due around the end of February. Coincidently March 2009 signalled the end of the rout on markets due to the global financial crisis.
We also concluded: “Traders who choose to invest in the markets over the next four to six weeks need to be nimble. Take profits when and as they arise and honour your stops. Only trade in liquid stocks, this may limit you to the ASX 50 or even the ASX 20 stocks between Christmas and New Year…Remember time is money, the longer you are exposed to the market the higher the risk of an adverse movement. Trade the market using a range trading methodology”. To read more please click
here
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TOP GAINERS
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(COB 11/2/10)
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Code |
Last |
Change % |
MHC
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$1.695 |
23.7226
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OGC
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$2.34 |
20
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MGX
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$1.61 |
19.7026
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CGX
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$2.30 |
15
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COK
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$0.40 |
14.2857
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TOP LOSERS
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(COB 11/2/10)
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Code |
Last |
Change % |
BCS
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$1.03 |
-16.9355 |
TAM
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$0.051
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-7.2727 |
MLX
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$0.10 |
-4.7619 |
AIA
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$1.46
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-4.5752 |
WHS
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$2.98 |
-3.871 |
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FINANCIAL
CALENDAR |
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Monday 15th
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Tuesday 16th
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Wednesday 17th
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Thursday 18th
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Friday 19th
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Dividends
BKN
CBA
ERA
KOV
RKN
WAA
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United
States
Empire Manuf, Feb (last 15.92)
Australia
RBA’s Debelle speech in Syd Dividends
CPU
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United
States
Minutes of FOMC Jan meeting
Housing starts, Jan (last 557k)
Building Permits, Jan (last 653k)
Ind Prod, Jan (last 0.6%)
Dividends
BLD
CHO
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United
States
Initial Claims, Feb 13
PPI, Jan (last 0.2% & 4.4%/yr)
Philly Fed Index, Feb (last 15.2) Dividends
SAI
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United
States
CPI, Jan (last 0.1% & 2.7%/yr)
Australia
RBA Governor Stevens speaks before House of Representatives Dividends
SMX |
Disclaimer
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