Wednesday, February 8, 2012

ASX, will it finally break the 4300?

- RBA kept rates on hold, saw the AUDUSD cross rates surge above 1.08.
- Bernanke spoke again last night, not ruling out a possibility for another stimulus, saying that monetary policy is lagging, and with a caveat, that employment factors are now shifting towards competitive issues globally.  Gold spikes higher, USD falls, whilst sp500 recovers into the green, to close up slightly for the session.
- Greece seems closer to a deal, although it's been lagging, the EURUSD spike and hold above 1.32 shows that speculations about an agreement are in place - now we may see some short covering which could easily take eurusd to 1.34.
- I added AIG, WYNN to my portfolio, and very leveraged into this current rally - there just doesn't seem to be any corrections >1%, so the risks still seem skewed to the upside despite the rally - every leading stock seems to be acting well, and price action in many stocks are forming bottoms and breaking out of their range.