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Tuesday 15th February, 2011

Tue, Feb 15, 2011

ASX Commentary

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

A flat day on our market today, the XJO closing down 4.8 points. Whilst today was quiet, there has been quite a bit of activity of late across our portfolios. The ASX Systematic portfolio is steadily generating signals and adding trades. The Growth Portfolio has seen several positions opened and of note are some blue chip signals which have been absent for a few months. We have added another three potential trades to the Discretionary setups today which now has plenty of trades on offer. These are spread across the board with several blue chip stocks now offering opportunities. Several insurance and financial stocks such as QBE, AMP, NAB and WBC are breaking or look like breaking large basing patterns formed over the last 6-8 months or so. Time will tell if this activity is a positive sign.

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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