Yet again the market firmed on open but slid through the balance of the day. This is the second straight session where early gains have been unable to hold. Many of the broader US indices are trying to punch up into new high ground, so it could be that traders are feeling more consolidation is needed before the next leg higher. My preferred exposure remains with the commodity based stocks. Seasonally this period running into January is very strong but seasonals have let us down a bit this year.
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Wed, Nov 18, 2009
ASX Commentary