chris fords - rotten dog thursday, page-10

After my burst of enthusiasm yesterday, I was certainly relieved that the SPX finished up on the day.

I don't think the rise here yesterday was just about speculation of an interest rate cut. Bear in mind that Shanghai and the SPX all went better about the same time and I don't think the investors in those markets give a stuff about our interest rates.

Will be pleased if the downtrend here gets broken today but the index that interests me the most just at the moment is the XTL. That covers the twenty biggest companies in Australia so it is where the BIG MONEY heads first so it is the index that I give a lot of attention to. Yesterday it certainly looked better making what could be a clearer base than the XJO.

But I do want to urge patience. I am rather excited about the possibility that the Australian market could be leading again but I may be wrong. But then when was analysing markets ever easy.

Nice move in copper again overnight as well as gold. That is four big rises in a row now for gold so would probably like to see a correction in the next couple of days.