energy / oil stocks - the XEJ has been moving horizontally over the last 3 weeks which explains why my oil stocks WPL & OSH have also retraced a bit.... both the sector and my stocks are still within their 2 month upward trending trading bands......west texas crude is still at $US106.5 / barrel -so its status quo for the warring in Iraq.
retailing / consumer discretionary - the XDJ is at the top of its two month downward trending trading band, likewise, HVN , MYR & JBH are at, or near the top of their also downward trending trading bands..... and we are now hearing everywhere (well in Melbourne ) of huge discounting of clothing & apparel due to the warmer weather in the late autumn and early winter - of course in the sunshine state the weather doesn't affect clothing sales because they wear shorts and singlets all year round
Consumer Staples the XSJ two month trading channel is approx. horizontal but the price movement over the last 3 weeks has been very sharp down from top to bottom and looks like charging on down further..
I can see FLEMSTER'S point of view about competition between the stores - well in the hardware sector mainly, with Bunnings and Masters at it head to head.. ... I think WOW will take an enormous hit with Masters, also I think if the weather has been as warm in some of the other states as for Melbourne then Big W & Target may also take some lower profits... the coal for WES is not a large percentage but it all adds up...
