Steady as she goes!
The market has continued to hold inside the trading range, given that we are moving into a seasonally strong period for the markets we could see the market try to make a break for freedom.
Over the next six months I do not expect to see the market move too much from the current trend, key issues are retail sales here and in the US, spending in China and recapitalisation of the major companies in the US.
We are starting to hear about US companies recapitalizing themselves and Christmas will give us a clear picture of retail sales. The negative news is from China, with banks tightening up on lending.
The important take home is, there is still lots of value in the market, you can now buy shares in Australian companies with a lot more confidence than you could 3 months ago.
Good buying include, ANZ, Woolworths, Westfield, Watpac, Suncorp, Telstra, Transpacific, Spark Infrastructure, Texon, Pan Australia and 1300SMILES.
Make sure you make the most of this opportunity. Please call (07) 4771 4577.