Thin trade expected for the last of 2010

It's amazing to see our market only 1300 points from its pre-crisis levels.

The European markets have opened positive and it looks like tension in the East have calmed down for now. The Asian markets have also reacted positively with most of them ending in the green.

Portugal's credit rating has been put under review by Moody's, but the market has not reacted adversely to it. It's almost as if the market is expecting these downgrades.

The US markets points to a positive open as well as their future indexes are up by about 0.5%.

There is not any significant news scheduled for this week, except for Thursday when unemployment claims will be published.

During the recent months we've seen a turnaround in the US unemployment figures and positive sentiment among consumers. We can also see it in their spending.

It looks like the recovery as under way with companies posting strong results.

Volumes on the markets are very subdued to it being close to Christmas.

Safe trading and a blessed festive season

Markets to continue its rally to the end of the year?

By the looks of it, it looks like the market is going to continue its upward trend. At least up until the end of December 2010.

After weak employment figures out of the US on Friday, the Dollar weakened against the Euro and the next target would be $1.37 and after that $1.40.

As we've reiterated in the recent weeks, is that commodity prices tend to rise as the dollar weakens.

The JSE is up 0.2% although Billiton, which is one of the commodity heavyweights, is up 2.5%.

Gold is also at record high levels and copper as well.

Banks remain on the back foot at the moment.

The ALSI future has also made a new 2 year high today and is currently tradin gat 28460.

Trade in December is usually thin and the feel good mood tend to influence investors/traders to buy the market up.

Safe trading