The market was again quite sluggish although inspiration was limited due to the US Memorial Day holiday tonight. Early weakness was recovered but then Wayne Swan put forward that GDP, due on Wednesday, will be somewhat lower because of the recent natural disasters which then caused a lacklustre dip into the close. The market remains weak and bullish positions should be carefully selected and though through before initiation. The name of the game is remaining patient and awaiting better trading conditions. Expect another quiet session tomorrow.

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1. Monday 23rd May, 2011