Market Comments 13/12/2010

The XAO was up today, +0.23%. Not much, but it was up.

The XAO seems to be drawn magnetically to the early November high. Today it got within 26 points and then fell away.

Financials were up a bit more than the general market; XXJ was up 0.9%. The banking sector rose - probably with some relief that Swannie hadn't hit them with more than a feather duster. As Walter Kerr once said, He had delusions of adequacy.

Nikkei was up today, 0.8%. Hong Kong was up, 0.67%. As I write, the FTSE is up, 0.82%.

In primary school I learnt the following poem by Robert Browning:

Pippa's Song

THE year 's at the spring,
And day 's at the morn;
Morning 's at seven;
The hill-side 's dew-pearl'd;
The lark 's on the wing;
The snail 's on the thorn;
God 's in His heaven—
All 's right with the world!

Somehow, I should be able to rewrite that verse with a reference to POMO.

Let's see what tomorrow brings. Currently, the trend is up. And Santa's coming.

Cheers

Red