SMALL CAP PORTFOLIO 2.30pm Updates Nothing done in the Portfolio. WBT going well. Almost tempted to take the money. Almost. CEO is heading to Australia so more interest maybe. ABB and MP1 doing good things too. Optus outage helps ABB. Broker upgrades on Iron ore price been a kiss of death. Usually happens. Speculative Stock…
SUMMARY
No change. Stay long and sing a song for now. I have the conch.
Does the RBA really matter?
Santa Claus rally? Two for your stocking.
TECHNICAL SUMMARY
Not many hits today illustrating the market has come off last week’s oversold levels.
S&P 500 breaks down-trend.
MQG hits another 52-week low.
ASX 200 pushes 18 points higher to 6995 (+0.3%). A tale of two cities with banks and industrials doing well and resources falling by the wayside. No sooner had a couple of brokers raised their forecast for iron ore than the miners staggered and slumped. Iron ore price easing and Chinese data not helping from…
The RBA has raised the official cash rate target by 25bps to a 12-year high of 4.35%. Highlights of the meeting include:
ASX 200 fell 20 points to 6977 (0.3%) after the RBA raised rates by 25bps. Slight rally after the RBA decision and Melbourne Cup. Banks were soft, WBC down 2.7%
