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Keith Law SA Fin

Private Share Trader and Website enthusiast

274 Nicholson St Orbost Vic 3888 Telephone 03 5154 1232

Share Trading

All Ords last three months

A correction

The first week of February has seen a testing of the support at 4500 on the All Ordinaries. Banks in particular have been falling below support levels. I have reduced my risk exposure and gearing to below 40%. The DJIA is testing the 10,000 level and for the next few weeks the lead from the US will be important.

From a Business Spectator report:

"Shares have clearly embarked on another correction that may have further to go given that concerns about Chinese tightening and Greece may linger for a while and that February is often a tough month for shares," AMP chief economist Shane Oliver said.
"However, we see the correction as providing a buying opportunity as the broader trend in shares is likely to remain up on the back of improving profits, still low interest rates globally and there still being plenty of investors who are under invested in shares," Mr Oliver said.
AMP still expects both major indices to be around 5,600 points by the end of the year, which would be a gain of around 22 per cent from their current levels.
Mr Oliver said investor confidence will draw some long term confidence after US Federal Reserve Chairman Ben Bernanke was returned for a second term

2009 in Review

The benchmark S&P/ASX200 index hit a global crisis low of 3,121 points during intra-day trading in March 2009, but has since trended upward and closed at 4870.6 on December 31. On a calendar year basis my total financial performance for 2009 has been 25.74% . The value of my investments has returned to the same level it was 3 years ago. In the same time I have been using the income from these investments as my main source for living and business expenses. At the low point in March I was not confident that my Finances would recover in such a short time but the capital raising by the banks as well as Asciano has been my main source of recovery gains.

What will 2010 hold? CommSec chief economist Craig James said "So we're looking for the S&P/ASX200 index to reach 5,300 points by mid-year and 5,600 by the end of the year." AMP Capital Investors chief economist Shane Oliver also expects the stock market to reach 5,600 points by the end of 2010. General manager of investments at Zurich Financial Services Australia Ltd, Matt Drennan, said " I think in the next 12 months, we can get to about 5,500 points on the All Ords which is a reasonable gain from here." I hope they are right

I have a margin loan with Commsec ( Commonwealth Bank ). I manage this on a close daily basis.

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