Afternoon Report Monday 31 March 2014
The ASX 200 was surprisingly strong today, closing 39 points higher as the month and quarter end led to a complete lack of selling.
The market closed off its highs as headlines came theough late in the session that South Korea returned fire on North Korean waters after North Korea shelled the South's water.
Domestically, strength came from both the banks and resource sector today with ANZ +24c, CBA +30c, BHP +33c & RIO +31c.
Remember April is bullish for the big 4 banks, averaging a healthy 3.2% return for the month (www.probabilitytrader.com).
We continue to be bullish banks for the next 4-6 weeks. Refer to recent Hickman Report.
WinnersReject Shop (TRS) +7.0% to $10.14Whitehaven Coal +4.8% to $1.655Medusa Mining +4.5% to $2.08OZForex Group +4.4% to $3.30Resolute Mining +4.4% to $0.595
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