12 October 2009 – Quiet Trade

ASX Commentary

12 October 2009 – Quiet Trade

Tue, Oct 13, 2009

An extremely quiet trading session today and with a Colombus Day holiday in the US tonight it may well be more of the same tomorrow. We stay with our view that momentum is still lagging the strength in price so continue with our cautious stance. We have Q3 earnings season upon us now in the US so it will be a good indicator of whether the economy really is perking up. Also many ASX companies will be holding the AGM’s in the coming weeks so we need to be listening carefully to rhetoric from those in the know. Daily and weekly trends remain firmly up but watch that waning momentum.

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Nick Radge - who has written 898 posts on The Chartist.

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