18 August 2009 – Holding

ASX Commentary

18 August 2009 – Holding

Wed, Aug 19, 2009

I had a chat with a friend on Wall Street about price action in the last few days. He says that yesterdays weakness was generated by futures sell programs, but he also stated that there are many people sitting back waiting to buy the dip. The unanswered question amongst his peers was how far that dip would travel. Seems to be the unanwered question around the world as its the same one we’ve been attempting to reconcile for some time. The Daily Trend filter turned flat today. Another negative session will see Daily Momentum turn Down. I retain my view of being wary but there is still no way to start thinking of short positions.

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Nick Radge - who has written 898 posts on The Chartist.

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