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As this will be the last TTN for 2010 I thought it would be interesting to look back at the year we had. Always a good exercise regardless of how we may have performed personally.
So we will start with the Big Momma of market guides and that is the DOW – still!
And I am going to look at simple weekly line charts – up to December 16 - with the vertical bar representing the beginning of the year:
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The DOW was up almost 10% at the time of writing. This was a credible performance and of course some investors would have done much better and some worse. That is the way it goes. There was however a degree of volatility and so the year was not without its risks.
But the US dollar fared much worse with the inverse happening for the Aussie which hit parity and was up over 11% making our imported toys cheaper, overseas travel easy but with not a huge effect on exporters – but with a massive hit on inbound tourists:
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Oil was also up about 10% but a long way from the 2010 dizzy heights:
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Copper was the big winner up over 25% and created an all time high:
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Our local equity market may break even for the year but the Resources sector was up over 10%:
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But banks drifted lower and look like being down about 7% for the year:
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And so this took our overall market no-where:
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TTN will recommence January 21 and that time we will take a peek at the year ahead.
So my final task for the TTN year is to wish you all a very happy, safe Christmas and I hope the New Year brings you much happiness, good health and some degree of prosperity!
Enjoy the ride
Tom Scollon
Chief Analyst |