The market has posted 2 large up days in a row, both of which closed at the sessions highs. Interestingly enough we’ve not yet regained 50% of the ground lost over the last 3-weeks. Also to note the decline through June was -368 pts and the one we’ve just been through, or going through, was -382 pts. Seems the theory of -9.5% declines stays true, so far at least. The one thing that is different from June is that the Dow Jones Transports has made a lower low this time around whereas in June it did not confirm the Dow Industrials weakness. I have tentatively added a few long trades in just in case this market decides to rip higher like it did back in July. The Systematic portfolio is still in lockdown, but another strong up session could well bring it back on line again.
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Mon, Nov 9, 2009
ASX Commentary