Looks like longs are going to be in a spot of bother this morning if currencies are anything to go by, AUD gapped down .81% on open suggesting the market is not happy about the uncertainty of our political situation, even if it does leave open the possibility of no mining tax. Thing to remember is that overseas investors wont be as intune with our politics as most of us and will just hear hung parliament as a negative for the markets.
Its going to be an interesting week, not sure to how to trade this one at the moment, but might just go with the flow with the index and only going for the bounce trade if we are majorily oversold (60+ ticks), as for stocks it might be good sticking with defensives and gold for the week. Goodluck
mixed monday
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Last
8,295.1 |
Change
68.800(0.84%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,226.3 | 8,319.4 | 8,226.3 |
| XJO (ASX) Chart |