Chris Becker

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Trading Day: game over

The S&P/ASX 200 opened down sharply reacting in line with overnight markets which were all down 1 to 1.5%, reversing yesterday’s gains. At just after midday, the index has lost just over 60 points or 1.31% down to 4510. Asian markets are similarly effected, with the Nikkei down 1.1%, the Hang Seng down 1.4% and

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The problem with asset allocation

What is asset allocation and why discuss it? Surely super is all about putting money away for retirement: how hard can that be? In this post, I will outline the conventional thinking regarding asset allocation and why it’s mostly wrong. The empirical evidence regarding this contention is overwhelming and stark. The major academic theories that

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Trading Day: jitters continue

The S&P/ASX 200 opened slightly down, reacting strangely to overnight markets which were all up 1 to 1.5%, and at mid-afternoon has lost just over 24 points or 0.5% to 4561 probably in response to Glenn Stevens inflation rhetoric about future rate rises. Asian markets are mixed, with the Nikkei down 0.13%, the Hang Seng

3

Trading Day: steady?

The S&P/ASX 200 opened 30+ points sharply down, reacting to overnight markets (it was closed Monday) but then reversed and at midday is up nearly 9 points or 0.19% to 4573 points. Asian markets are generally up, with the Nikkei up 0.16%, the Hang Seng steady and Singapore also barely up. Other risk assets are

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Where are market trends?

With a lot of talk recently in the mainstream press about why the Australian share market is going sideways (with the requisite bullish notion that it will go up 10% year on year), I thought I’d examine a series of world markets from a Big Picture perspective. I’ve developed a long term price-based system that

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Australian Market Weekly Wrap

The S&P/ASX200 Index closed the week slightly lower at 4562 points, a 0.4% fall, extending a 400 point or 8.2% loss from the mid-April high of 4971. This move is identical to the February/March Japanese earthquake correction signaling very high volatility in the local bourse. SPI Futures put the opening price for the market on

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Trading Day: a reversal in risk?

The S&P/ASX 200 opened sharply higher, reacting to the first up day in six on overseas equity markets, and at midday is up 15 points or 0.34% to 4564 points. Asian markets are generally up, with the Nikkei up over 1.2%, the Hang Seng continuining its decline, dropping 0.5% and Singapore and NZ steady. Other

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A super question (updated)

Reader, Bamboozled, recently left a comment on my “Trouble with Funds Management” post, asking what direction to go with her super: I’m a 30 something trying to consolidate a sizeable sum spread across 4 funds into something that resembles a reasonable super bet. At the most basic level I have 2 lots of dosh in corporate

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Trading Day: no reaction to jobs

The S&P/ASX 200 opened higher, shrugging off bad job data, and at midday is up 10 points or 0.2% to 4546 points. The correction has now wiped off just over 9% of price in the ASX200, just below the conventional 10% level of a complete correction. Asian markets are mixed, with the Nikkei down over

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Monthly chartathon

The Reserve Bank released its latest Chart Pack yesterday. As a technical analyst/chartist, I prefer a visual representation of data and have always found this series of charts fascinating. The whole pack can be downloaded here (1.28 mB or so) or viewed by section here. Although it covers many areas, I’m going to look at

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Trading Day: support broken

The S&P/ASX 200 dropped on the open, and at midday is down over 53 points or 1.16% to 4520 points. The correction has now wiped off just over 9% of price in the ASX200, just below the conventional 10% level of a complete correction. Asian markets are all down, with the Nikkei down over 0.4%,

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Trading Day: rates pause

The S&P/ASX 200 slipped on the open, down over 30 points or over 0.6% before this afternoon’s rate decision by the RBA. It is now at 4541 points and rising as a result. Asian markets are mixed with Japanese markets rallying, with the Nikkei up over 0.5%, but the Hang Seng dropping 0.7% and Singapore

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Trading Day: Monday 6th June

The S&P/ASX 200 continues to slip, down 15 points to 4567, after following Wall Street’s losses over the weekend. Asian markets are down even furthera, with the Nikkei down 0.94%, the Hang Seng down 1.31% and Singapore down 0.42%. Other risk assets are steady and even rising, with the AUD at 1.0744 against the USD,

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Tale of two corrections

The past 2 years of volatility on the ASX200 is similar to those of us who witnessed or have intently studied prior market corrections. As opposed to the usual bullhawks and “everything is fine” brigade, stock markets actually experience more sideways movement than rallies over their history. The 2000-2002 post-tech bubble market is eerily similar

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Weekly Aussie Market Wrap

The S&P/ASX200 Aussie Index closed at 4583 points, down 100 points or 2.1% for the week, continuing its correction from the mid-April high of 4971 points, or a 7.8% loss. Closing SPI futures from overnight had the ASX200 trading at 4543, 40 points down from Friday’s close. Overnight risk markets remain in a bearish phase,

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Trading Day: slippery slope

The S&P/ASX 200 continues to slip, down 12 points or 0.25% to 4585 points, after following Wall Street again overnight. Asian markets continue to sell off, with the Nikkei down 0.32%, the Hang Seng down 0.5% and Singapore down 0.3%. Other risk assets are mixed, with the AUD down but steady at 1.0672 against the

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Trading Day: falls across the board

The S&P/ASX 200 suffered one of its worst days dropping over 105 points or nearly 2.5% to close just under 4600 points, after taking strong leads from the falls on Wall Street overnight. Asian markets were also heavily sold off, with the Nikkei down 1.6%, the Hang Seng down 1.7% and Singapore down 0.52%. Other

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Some QEasy charts

With the ructions in overnight markets given the poor state of data coming out of the US and continued sovereign debt issues in Europe, l thought I’d show how this is playing out visually in the important markets. There are a couple of “standout” charts that underline what is really going on: US 10 year

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Trading Day: GDP jitters

The S&P/ASX 200 is down 2 points or 0.04% to 4707 just after midday, after rallying strongly in overnight trade, but pulling back at the open this morning amongst the jitters around the negative GDP figures. Asian markets are also mixed, with the Nikkei down 0.2%, the Hang Seng down 0.2% and Singapore up 0.33%.

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Trading Day: has the selling stopped?

The S&P/ASX 200 is up almost 1% or 42 points to 4707 this afternoon. Asian markets are up strongly, with the Nikkei up 1.5%, the Hang Seng up 0.9% and Singapore up 0.32%. All risk assets are up, with the AUD just above 1.07 against the USD, whilst gold is at $1538 USD an ounce.

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Profiting from debt

Much news and analysis has been made regarding the level of public debt around the world, particularly in the so-called PIIGS (Portugal, Ireland, Italy, Greece, Spain) European nations, although the US and the UK are in similar shape quantitatively. More than enough news has been made regarding Australia’s public debt, which is paltry in comparison,

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Trading Day: Monday

The S&P/ASX 200 is down 22 points to 4662 just before midday. Asian markets are down mainly, with the Nikkei down 0.32%, the Hang Seng steady and Singapore up 0.14%. Most risk assets are up, with the AUD just below 1.07 against the USD, whilst gold is up to $1537 USD an ounce. WTI crude

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Trading Day: 27th May

The S&P/ASX 200 is up 25 points to 4684 just after midday, continuing to claw back some of this weeks losses. Asian markets are mixed however, with the Nikkei down 0.24%, the Hang Seng up 0.76% and Singapore also up 0.71%. Other risk assets are up too, with the AUD above 1.07 against the USD,

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The trouble with Super

After my article on the fund management industry, I’ve received many requests from regular MacroBusiness readers for an in-depth analysis of superannuation. In my former career as a financial planner and portfolio manager, I found myself almost exclusively specialising in superannuation, particularly asset allocation. This was mainly by design as the majority of clients within the financial planning

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Trading Day – Thursday 26th May

The S&P/ASX 200 is up 36 points or 0.78% to 4626 points just after midday, reversing some of this weeks losses. Asian markets are up, the Nikkei 1.2%, the Hang Seng up slightly at 0.37% and Singapore steady. The AUD is above 1.05 against the USD, whilst gold continues to rise at $1529 USD an

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Equity Spotlight: Graincorp

Profit Increase and Upgrade Graincorp (ASX Code: GNC) has posted an increase in FY11 net profit of 66%, in addition to lifting FY profit guidance to $145 to $165 million, a $30 million increase from previous guidance which put the figure between $115 and $135 million. The main reason behind the increased result was a

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Trading Day: Dead cat falling

The S&P/ASX 200 is down 30 points or 0.65% at midday, continuing the broad correction since mid-April. Asian markets are down, the Nikkei 0.36%, the Hang Seng down 0.58% and Singapore 0.3%, following the US market drop overnight. The AUD is dicing with 1.05 against the USD, whilst gold is rising at $1524 USD an

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Investing in Grains

Most commentators and analysts focus on the hard commodity story for Australia: iron ore, coking coal and metals like copper and aluminium. International pricing forces, driven by demand in China and India and exarcebated by easy monetary policy across the developed and emerging world is having a similar affect on the so-called soft commodities driving

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Trading Day: the correction continues

The S&P/ASX 200 is down 22 points or 0.5% at midday, continuing the broad correction since mid-April. Asian markets are mixed, with the Nikkei down 0.1%, the Hang Seng down 0.2 and Singapore steady, on the back of news that Goldman Sachs has downgraded Chinese GDP growth. The AUD is back above 1.05 after dipping

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Correlated risk is off

Stock markets around the world are either in full flight correction (Australia) beginning, or wobbling along. Yesterday we had the Asian stock markets, with the ASX200 down 1.88%, Japan (Nikkei 225) down 1.52%, Hong Kong (Hang Seng) over 2.11% and Singapore 1.83%. This action was continued through to Europe, with the German DAX down 2%,