by Chris Becker
This week’s report (recorded last night) has been published as a videocast at the MacroBusiness YouTube channel, and continuing on from last week’s theme includes analysis of the Australian stock market, including a look at five specific stocks.
I’ve included the updated charts displayed in the videocast below – first heres the monthly chart of the ASX200:
The weekly:
The updated daily chart – with deceleration apparent as the market reaches support at 4900 points, and the trendline from the July/Nov 2012 lows:
And the next great hope – materials (XMJ) vs the Hang Seng China Enterprises Index (HSCE):
And financials (XXJ):
Now to some stocks – here’s Bank of Queensland (BOQ), discussed last week and down 7% since:
Here’s BHP-Billiton (BHP):
QBE Insurance first the weekly chart for context:
Then the daily chart:
Caltex (CTX):
And Newcrest Mining (NCM):
Plus the gold chart in USD and AUD:
Remember, these views are my own, do not constitute advice and are for information purposes only. I may have positions in any or all of the securities mentioned and their associated markets both long and short, on an intra-day, daily and weekly basis for my own account. Please seek advice from a licensed adviser before making any investment decisions.
Trading Diary
If you’re interested in my infrequent and irregular thoughts about trading (mainly Aussie shares), markets and subjects like risk and psychology, have a look at my Trading Diary.
Remember to manage your risk first and the returns should come thereafter. Have a good weekend!