Our market bolted out of the blocks on the open and range traded in a choppy fashion thereafter. Gains were held despite a sudden sell off shortly after 2.00pm. A six session losing streak was broken with the XJO putting on 1.9%, trading average volume. The market seemed to be buoyed by rumours abound about the IMF bailing out Italy, US futures have also been trading around 2% higher during their night session. Financial stocks, along with the Gold, Materials and Metals/Mining sectors were the main drivers of today’s rally. Apparently the US festive retail season has enjoyed a solid start but if the bizarre scenes from the Walmart sales are anything to go by it may be more a reflection of the US economy than the start of a bumper season. People love a bargain but that is taking things to a new level!

Similar stock trading tips:

1. Monday 7th November, 2011
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3. Thursday 28th July, 2011