One indicator that is used to give an idea on how the Australian market will start the day is the Dow Jones Index. Last night the Index remained steady with large volume at the end of the day.
When the Dow Jones falls usually Resource stocks seem to follow on the Australian Market. As the index remained steady with interest towards the end of the day, I would expect ADY to increase today along with many other resource stocks. Other reasons include ;
- Fall in price yesterday but building up towards the end of the day.
- Drilling is scheduled to commence tomorow, giving traders a change to get involved before results are released.
- Looks like an uptrend is forming
- More Buyers than Sellers
At the End of Today ADY closed 3.92% Higher, slow day compared to other Australian Iron Ore Producers in particular FMG up 9.14% ... Drilling to commence tomorow...
1 comment:
Hi vcplc,
Thanks for leaving a comment in my post DMOZ the most important directory and for your kind words.
BTW be careful with your money in the stock exchange. It can come and go very easily. Safer to make money from blogging.
Peter Blog*Star
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