I think there is the possibility the market will touch 4880 pts, but the ASX will finish the week above 5000 pts. Resources will be the biggest source of strength, as well as food & farming-related stocks.
Mining companies are looking at healthy metal prices irrespective of the strong $A. We will be looking at parity between the $A and $US, so dont even think about exporters or companies with a significant portion of their earnings derived from offshore. The best performers will be the gold producers, but with the greatest gains coming from the emerging producers rather than the established miners which have found support in the market already. So check out my Specs blog. This is buying time people in gold, silver, palladium and platinum. Not oil at this point, and selectively with other metals and coal.
Andrew Sheldon www.sheldonthinks.com