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Trolley Wars
The ASX200 opened strongly yesterday but fell to be only up 7 late morning. At lunchtime it hit a high of up 32, approaching 7100, but slipped again to close up 17.
The index continues to hold above 7000 but is struggling for any conviction to push higher. That lack of conviction is underscored by recent volumes being to the low side. Perhaps we’re all waiting for the May budget to spark some life into the market, or not.
Meanwhile, the focus has been on the flood of corporate quarterly updates. This week the big supermarkets have been in focus.
It is a truth universally acknowledged that one of the two majors will be performing better for a period than the other, before those roles reverse for a time, and later back again. For a long time Woolworths ((WOW)) was leaving Coles ((COL)) in its dust until Coles spun out of Wesfarmers and hit the front thanks to aged rock stars and Little Shop landfill. ....

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