Switzer on Saturday

Technicals, terror, Tony and terrific data

Founder and Publisher of the Switzer Report
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It was an annoying week for stocks, with the S&P/ASX 200 index down about 95 points points to 5454.3. During the week, however, we saw a high of 5550.3, which raised my hopes that we might start sneaking towards my big call of 6000!

Let’s face it, when we were at 5550, we were 450 points away, only a measly 8%. Now I need a 10% rise to be a chance to crow by New Year’s Day!

Shane Oliver is still hanging on to his 5800 call and we did start the year at 5352. So at this stage, we’re up about 2%. With dividends and franking, we’re up about 7%, if your portfolio is as good as the index.