It was all somewhat dire at todays open after the US markets plunged over 1% in the last 30 minutes of trade after Fitch warning about US bank exposure to European debt. I’m not quite sure where these fools get off trying to stablize markets making these kinds of comments. Timing is everything. However, the ASX held its own and spent most of the day griding back into the black. There is a significant disparity occuring between small caps and the front line stocks, with the latter really lagging. There are some significant moves occuring further out beyond the ASX-100 and as has been said before it was this area of the market that ran hard in late 2010 as well. Daily trend remains up.

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