With US and European markets down overnight and base metal commodities being punished it was not going to begin well for our market. Subsequently, it was down on the open and kept selling off into early afternoon, then attempted to rally thereafter. It managed to claw back about twenty points to close off the lows and we also saw a significant lift in volume. Needless to say, the resource sectors bore the brunt. The ASX Systematic Portfolio has rapidly been taking defensive action and now only has one position remaining. Today also sees the Growth Portfolio switch off in terms of not taking buy signals and initiating defensive action on stops.

Similar stock trading tips:

1. Thursday 15th September, 2011
2. Thursday 14th July, 2011
3. Thursday 1st December, 2011
4. Thursday 8th December, 2011
5. Thursday 9th June, 2011