26 August 2009 – Strong volume

ASX Commentary

26 August 2009 – Strong volume

Wed, Aug 26, 2009

A strong day today based on price action, close and volume. Volume was particularly strong and word is that institutions have been (1) caught overweight in cash and (2) caught by the earnings results. They are now playing catchup. There has also been some corporate activity, i.e. takeovers such as SGX and FLX and this too has placed a very positive on price activity. And to think that Australia is still the worst performing market in Asia! Hong Kong, China, Korea and Taiwan have all bounced over +40% YTD whereas Australia is lagging at +20%. We kind fight the trend and who really knows where it can go?

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This post was written by:

Nick Radge - who has written 899 posts on The Chartist.

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