BFM 89.9
The Business Station
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Daryl Guppy, Founder and Director at Guppytraders.com in Darwin talked about
- L-shaped recovery for the US markets - market is moving rapidly between 10,800 to 11,600 - quite volatile
- FTSE, DAX not reacting as much as expected to news of Moody's downgrade of 2 French banks and European Commissions options for intro of euro area bonds
- Aussie's S&P ASX 200 following US market, very strong move on the downside, very careful re:going long on any stocks. banks giving best rallies at this stage. trade for short term rallies and retreats
- gold collapsed on parabolic trend, came back very quickly, now lt uptrend in place, dollar index strengthening - weakening factor for gold price, continuing uptrend but slower rate to $2,000 an ounce
- oil likely to go up, tells us why from a technical perspective
- many selling opportunities, very few buying. very difficult to trade with longer term in mind.
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