To taper or not to taper, that is the question
Announcement posted by de2 Communications 18 Dec 2013
The Australian share market remained flat today and closed slightly lower today as traders stay on the sidelines.
“To taper or not to taper is the question on many traders’ minds today,” said Ashley Jessen, director of Communications at Invast Financial Services.
The US Federal Reserve is expected to make a decision on whether to taper the quantitative easing or not. News of the decision will hit the Australian market on Thursday morning. Given the importance of the news, traders and investors were reluctant to open big positions today.
“It was no surprise to see a complete lack of direction in either the US, European or Aussie markets over the last 24 hours,” Jessen said.
S&P/ASX 200 Gainers and Losers
Decmil Group (DCG:ASX) has managed six straight up days with today’s 5.26% gain icing on the cake as it rebounds from a fairly bearish two months of trading and pushes back into a larger support zone between $2.05 and $2.55. Goodman Fielder (GFF:ASX) managed to be the second best performer on the day but really just managed to a positive gain of 3.2% as it consolidates the recent fall at the bottom of the current down trend.
Top 5 gainers:
· DCG DECMIL GROUP +5.26%
· GFF GOODMAN FIELDER +3.20%
· MGR MIRVAC GROUP +3.16%
· QBE QBE INSURANCE GROUP +2.26%
· BRU BURU ENERGY +2.13%
Wotif.com Holdings (WTF:ASX) had the unfortunately job of watching their shares drop a massive 31.82% today as Graeme Wood issued a profit warning to investors, suggesting a possible fall up to 20 per cent with volatile trading conditions to continue. Amcor (AMC:ASX) gave back two and a half months of excellent trading conditions when the shares fell 9.77% after the share market debut of Pact Group Holdings and demerger of Amcor.
Top 5 Losers:
· WTF WOTIF.COM HOLDINGS -31.82%
· AMC AMCOR -9.77%
· SBM ST BARBARA -7.27%
· OZL OZ MINERALS -6.94%
· ASL AUSDRILL -6.25%