But I thought this was worth passing on.
The 50 Leaders today was flat.
Advancing issues: 18
Declining issues: 28
In the ten market sectors today only two were up and one was flat.
The two sectors up today were: Energy and Telecommunications.
The flat sector was Health.
I would think that Energy is up on the basis that Japan will need more LNG and Coal from Australia in light of the nuclear disaster in Japan.
The other two sectors are defensive sectors.
Woodside Petroleum (WPL) was up 2.15% today. Woodside is a big supplier of LNG to Japan.
MacArthur Coal was up 2.01% today.
Today's rebound was impressive - but it was not a broad market rebound. The rise was basically defensive and energy related.
We need to see a broader base than this. That might come tomorrow. I hope so. But I wouldn't bet on it.
Good luck
Red
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