Stockmarket Sleuth Archive June 2009

Markets are not ready to rise yet

As winter covers South Africa like a blanket, investors have gone into hibernation. The recent rally has pulled back considerably and undervalued shares have become even cheaper. Our market’s dropped 7.7% over the last 20 days and, while there’s been a day or two of positive trading, the overall trend is downward.

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While markets collapsed this week and we are almost ready to start snapping up deals

Last week, I said the markets would come back slightly if they failed to break the 200 day moving average (MA). Unfortunately, they didn’t break through and have subsequently slumped. The markets didn’t go through their 200 day MAs and have traded sideways for the last couple of weeks was because there no substantial news or changes to the market fundamentals to give it that push it needs.

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The market continues to rally – it’s up 23.82% since March

The ALSI and global markets continue to climb. What’s worrying me is that there’s no significant news justifying this type of rally. The ALSI has climbed almost 8% over the last two weeks.

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The market continues to rally it is up 23.82 percent since March

The ALSI and global markets continue to climb. What’s worrying me is that there’s no significant news justifying this type of rally.

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