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October 11th, 2010

Mon, Oct 11, 2010

ASX Commentary

Weekly Trend: Up
Daily Trend: Up
Daily Momentum: ___ Flat

Another day and much the same old story – the mid to smaller cap resources and energy sectors continued their rise with many stocks closing at or very near their sessions highs. It’s been a great 6 weeks. It just goes to show that you can spin the wheels for 8 or 9 months then make it all back and then some in a very short space of time. Those that are patient are the ones that get rewarded. Technically there is nothing more to say. There is no reason to be considering short positions. For all we know (and we don’t know) is that we could continue higher unabated through till Christmas….we can only hope.

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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