G'day all,Friday’s price action (or rather lack of action) was...

G'day all,

Friday’s price action (or rather lack of action) was understandable. The unemployment figures released last night cast a risk adverseness "shadow" over many volatile stocks, such as ORD.

This meant that most day/short term traders were not game to hold over the weekend and the morning’s action reflected traders exiting only to recover in the afternoon since the index was very much in the green.

The daily volume was just over 1.1mil with a grand total of 30 trades... nothing. So understandably even medium size orders moved the price around a bit.

Most traders were hoping that the aforementioned data would give some indication as to a new direction to the overall market. It did... Sideways.

Ultimately IMHO the general market movements affect ORD as follows:

Downwards: Negative
Sideways: Positive
Upwards: Well...

Always remember that your individual investments should always be made while keeping the greater market/sector/industry group in mind.

Any major sellers hoping to push the price down further would have immediately become apparent as yesterday was the opportune time for such activity.

As for Monday well, the DowJ did end up slightly postive however the AUD ran up to 92c so I will be interested to see the open.

Overall I am very bullish on ORD and I am holding long term.

Have a great weekend.

Rdgs,

Mack