A nothing day but we retain a very cautious approach aligned with the various divergences on offer. We also hear that some global indices are being re-weighted over the coming weeks and its said that Australia’s weighting will be lowered meaning some selling should keep a lid on prices. There is no reason to be looking at short trades at this stage but nor is there reason to be getting overly bullish near term, at least not on short term swing trades.. Once we feel the market has worked its recent bullish steam off we’ll again look at new bullish setups. If I were to be involved on the long side it would be Gold stocks. NCM is looking like it wants to breakout so we’ll take a closer look at that in due course. For those riding LGL after our review recently, stay with it as there is great upside potential to be had.
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Phone: +617 5473 5743
Suite 1/ 21 Sleepy hollow Drive
Noosa Heads QLD 4567
AFSL 288200
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