The US Connection...

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holycow

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Post Number: 450
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Friday, December 03, 2004 - 09:12 am:

ASX gains $10.1bn on US lead

BT Financial Group chief economist Dr Chris Caton said the S&P/ASX 200 could "definitely" reach 4000 points by Christmas, but said the performance of US markets was still the most significant determinant of local performance.

"It (yesterday's rise) was mainly reflecting the US stockmarket's response, rather than oil price movement directly - that is, if the US stockmarket hadn't responded then we probably wouldn't have."

JBWere OnCall manager Mike Kendall agreed that strong leads from overseas could push the major Australian indices beyond 4000. "If we keep seeing the type of performance offshore influencing our market, and the oil price continues to unwind, obviously the chances are very real," he said.

***
1) yes there is a US market effect on ASX;

2) with such STRONG reaction, it only highlights the buoyant and exuberant market driven by sentiment and not fundamentals (you may cut this down by 50% because I could be bias in my observation)

HC

"... if you've got a chart, I have an opinion!"

holycow

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Friday, December 03, 2004 - 09:19 am:

... the potential "new" coming into the market - leftover from the property sectors.

Not sure if you can still remember a few weeks back there were about 15-25% of Australians consider property to be better investment than share stock - with contrasting news such as property price crashing and stock price skyrocketing - just tighten your seat belt for the "mum & pop" part time investors hitting your friendly neighbourhood.

Think!... of the aftermath!

HC

"... if you've got a chart, I have an opinion!"

holycow

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Friday, December 03, 2004 - 09:24 am:

Even the journalist got into the act!

Now... I can almost "see" 4000 just a mile down and 4300 will be raised as the next target!

The good time will keep rolling for "a while"! Holycow!

HC

"... if you've got a chart, I have an opinion!"

holycow

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Friday, December 03, 2004 - 10:20 am:

*** take note of the volume!

HC

"... if you've got a chart, I have an opinion!"

dogalog

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Friday, December 03, 2004 - 10:44 am:

Get a Grip,HC
what is all this,newspaper reports from obscure journals?
1)get some positive grovelling going on Super-Cheap.Even if it's just "XYZ appears a super cheap share" get the name buzzing in their heads,ok?
2)boost the property market;encourage development around Kirra[southern Gold Coast]i can't have the property market fall over til i get out of an acre share of Kirra,ok?

now don't worry,no one reads your BIG Picture dross so only u'n'i know what's happening.Stick to Shares and Plots,all right.

seriously worried about you,
d'j

holycow

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Friday, December 03, 2004 - 11:00 am:

Dr,

Your a real character. Heard of Breakfree before? This one is a hot potato as far as fundies are concerned. This outfit specialises in residential and resort(?) development in the Southeast past of Qland (is it near your homebase?).

Now please do some spying work for all of us in this forum and furnish a report if they are really this "hot".

Cheers.

BRK Daily
brk

1) can't tell much from chart except it has been on a good run, I reckon it might take a break at this point. No rush.

HC

"... if you've got a chart, I have an opinion!"

peterloh

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Post Number: 840
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Friday, December 03, 2004 - 11:12 am:

HC,

I was given a tip by a close mate of mine during a business lunch back in June. I did not act on it because I don't act on tips.It was around $2 then and he reckoned it would be $3 by the end of the year. I didn't have another look at the share price till you brought it up this morning.It shows you can't win them all.

PL

-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

holycow

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Friday, December 03, 2004 - 12:00 pm:

Peter,

We can't win it all.

My(sniff!sob!) story.

I have a comment in my trading journal saying "BUY' on 13/7/04; for some reason, it has slipped through - so breakfree didn't actually breakfree for me, it broke my heart...

Since then it has been staying in my watchlist and I have never gathered enough "enthusiasm" to buy this sucker till this day!

It's really strange how our ego can make us do silly thing...

HC

"... if you've got a chart, I have an opinion!"

dogalog

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Friday, December 03, 2004 - 12:11 pm:

DUMP IT FOR cows SAKE,they,THEY dat breakfree,they run
SCHOOLIES,how can i say this?
HC they are not an ETHICAL investment.
shoolies is bottom piping,NIX fallen Angel potential,
hc if you've bought THIS
well for one thing
YA GUNNER NEED ALLLLL ofd HELP,yakkien gets.
i'll say a prayer 4 u.

still,still i'll hang in'
d'j

holycow

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Post Number: 458
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Friday, December 03, 2004 - 12:51 pm:

Dr,

Is that right?

Thank goodness I don't have this "schoolies" rip-off joint!

Them fundies must be people without much conscience, huh? :-)

Cheers.

HC

"... if you've got a chart, I have an opinion!"

holycow

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Thursday, December 09, 2004 - 08:27 am:

Storm Clouds Gathering...

Statistical gauges, the barometers of an economy's direction, have been falling since summer—a sign that the fair winds of the past are about to switch direction and bring about stormy weather. Indeed, all the economic weather vanes point to the brakes being applied to growth in manufacturing. More evidence: Only 46% of the buyers polled by PURCHASING in September and October reported growth in business activity, the first time that number has fallen below 50% since October 2003...