Shareswatch Australia

As the Australian ASX All Ordinaries Index slowly crawls towards the 5000 level again, now is a good time to look at how some stocks have come through the global financial crisis. Does it look like a global recovery has finally taken hold, and is the Australia stock market poised to surge higher over the next few weeks?

Now that it appears we are in the midst of the long awaited stock market correction it seems an ideal time to check how the 52 week stock prices have been tracking for a number of ASX listed stocks as this may tell us if the rally of the last 7 months is running out of steam.

Like many Australians I have been frustrated for many years over the slow progress that was made in getting affordable high speed internet connections widely available across Australia.  However in order to get a world class communications network deployed we need the private sector to be in the driving seat and for the government to be involved as little as possible.  Yet thanks to government mismanagement, Australia is now about to spend a fortune of taxpayers money to roll-out a national broadband network.

Well it seems the inflation genie is back in the bottle and that the bottle is back in the cupboard. Therefore our wise leaders in Canberra have in less than 12 months gone from fighting inflation, to trying to stimulate growth and save the Australian economy from recession. Of course none of the economic problems Australia faces today have anything to do with government blunders, it is all China’s fault.

In Part 1, I looked at the 52 week high and low prices for a few financial stocks and of course, these companies have seen their stock prices slashed. But surely if the market is being hit by issues related to the credit crisis then there must be some sectors, like food for example, that have held up rather well. (as long as the company involved does not have large amounts of debt)