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- May 4th 2009 – A flurry on strength
Posted on Tuesday, May 5th, 2009 in ASX Commentary – Comments: (0)The ASX has been a little short of good trades over the last few months but over the last 2-weeks there has been some great opportunities. Currently the short term Power Setups portfolio is following along with some 16 trades at various stages of development. We’re looking to bank some good partial profits in ROC after entering at $0.47 on April 28, representing a 34% gain in just a week. BKN, AGS, OMH andNOD are¬† some also showing some great opportunities for short term swings.Liquidity is still low in the domestic market yet we expect it to grow over the coming months as some bear market bounce confidence keeps building. We do not view this current strength as a new bull market, although we do note that several brokers have called an end to the bad times. They may well be right through to the end of 2009 but we see continued instability for some time to come.
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