ash
09-03-2004, 01:13 PM
What do you all think of this? Should we be buying???
Market rises to breakthrough levels
By Gabrielle Costa
March 9, 2004
The Australian sharemarket is within reach of record highs - and the next bout of positive investor sentiment could push it through key levels where experts say it could gain even more momentum.
The benchmark measure of the performance of the Australian market, the All Ordinaries Index, rose 9.2 points yesterday to finish at 3425.5, less than 15 points below its 3439.98-high of March 3, 2002.
And the index that gauges the performance of the nation's biggest listed companies, the S&P/ASX 200, was up 12.5 points on the day to 3420. On March 7, 2002 it peaked at 3497.6.
"We're being driven very much by the fact that we're within touching distance of new all-time highs," said David Halliday, an associate director at Macquarie Equities.
He said if the trend continued and the indices burst through record levels, some large investors, including investment funds, could be forced to buy up stocks, pushing the market even higher.
Market rises to breakthrough levels
By Gabrielle Costa
March 9, 2004
The Australian sharemarket is within reach of record highs - and the next bout of positive investor sentiment could push it through key levels where experts say it could gain even more momentum.
The benchmark measure of the performance of the Australian market, the All Ordinaries Index, rose 9.2 points yesterday to finish at 3425.5, less than 15 points below its 3439.98-high of March 3, 2002.
And the index that gauges the performance of the nation's biggest listed companies, the S&P/ASX 200, was up 12.5 points on the day to 3420. On March 7, 2002 it peaked at 3497.6.
"We're being driven very much by the fact that we're within touching distance of new all-time highs," said David Halliday, an associate director at Macquarie Equities.
He said if the trend continued and the indices burst through record levels, some large investors, including investment funds, could be forced to buy up stocks, pushing the market even higher.