friday trading, page-92

I don't post too often as most on this thread are guided by an array of charts and numbers reflecting past events. IMO what we have been seeing of late is back to the fundamentals of company reports with some fear and greed or should that now read as confidence.

Some of the numbers from major companies have been quite favourable compared to the confidence numbers, eg BHP, CBA, RIO, CPU and throw in ANZ to boot. If decent numbers keep coming, confidence will return and the market will start to move up, after all, what alternative do investors have with interest rates so low. At a business level, despite my cynicism, the first stimulous has helped the first home buyers market and this leads to other positive knock on effects as well.

The next couple of weeks for the XJO will not be determined by past charts but by company reports and forward forecasts. Keep a closer eye on so called business confidence numbers as a better short to medium indicator.

Anyway, I enjoy the charting and historical discussions despite a lack of belief!!