It’s been a bumpy month for shares this month as most of them were falling including the All Ords which closed at 4,954.6 on 1 April and is currently trading at 4,854.6 – a 2.0% decrease. While that wouldn’t have concerned you if you are holding for the long term, those holding for short term investments have had a bumpy ride.
But there were still some winners according to my rules.
First looking at the sector changes over the last month, XTJ Telecomms was a clear winner increasing by 2.8% when most other sectors were falling.
Looking inside XTJ, probably the stand out performer was Telstra (TLS), which is currently in an uptrend.
As you can see from looking at its chart, it has changed direction from mid March and is rising steadily. It’s my top pick for best short term investment for May 2011.
Other stocks to keep an eye on are Telecom NZ (TEL) which also seems to have turned around and is moving upwards.
TPG Telecom (TPM) has risen sharply since mid March is another one to keep an eye on – however as I mentioned in my last post, it does seem to be slowing now and I think the high gains are over – so I wouldn’t rush into this one just yet until it’s clear where it is going to move next.