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Friday 16th September, 2011

Fri, Sep 16, 2011

ASX Commentary

Weekly Trend: Down
Daily Trend: Down
Daily Momentum: ___ Flat


A better day on our market today as the gains made in morning trade were held onto right to the close. It range traded from about 11.30am, but at least the gains were held for a solid end to the week. The XJO closed 77.7 points higher to put on 1.9% for the day and ended the week down 1.08%. The sector board ended the day all green, the best performers being Property Trusts, Energy and Financials. Small caps lagged the 200, the Small Ordinaries closing 1.5% higher. Another 30 points or so will see the ASX Systematic Portfolio switch back on and another 200 or so for the Growth Portfolio. On the US market the US Systematic Portfolio is about 40 points shy of swinging back into action after 1.7% gains on the major indices overnight. S&P 500 futures are down approximately 0.7% at the time of writing in the night session.

Similar stock trading tips:

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About the Author:

Nick Radge has over 25 years’ experience in the financial markets. He is Head of Research & Trading at The Chartist, manages money using active management strategies and consults to various financial planning, stock broking and accountancy firms. He can be found on Facebook, Google + and on Twitter.

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