Meridian Weekly Market Update – 16/11/2009
Posted on 16. Nov, 2009 by Anthony in Stock Broker Reports
Resistance ahead and volatility is coming back to our markets, 4,750 still remains a critical price to break back above and “HOLD IT”.
Our Aussie unemployment figures certainly gave us no direction after they showed the downward trend continuing.
A slowing Unemployment downtrend is the key to all the “BULLS” out there.
With a week of wild rides it was nice to recover a bit of our recent week’s losses however the large selling just had a rest as they reappeared towards the end of the week.
Our Aussie I.T sector enjoyed the best returns for the week thanks to momentum around the world showing this sector is so undervalued and producing some of the greatest profits going around at the moment.
Meanwhile our materials sector especially our Aussie Gold stocks gave us another entry signal.
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