3 November 2009 – Warren takes the plunge

ASX Commentary

3 November 2009 – Warren takes the plunge

Wed, Nov 4, 2009

The big news last night was Warren Buffett’s foray into a large railroad company and the associated rhetoric that he’s placed his biggest bet ever on the US recovery. As a result the Dow Jones Transports jumped a whopping +5.28%. Smaller indices also moved higher which is a positive sign as well. I have added two new trades for tonight, both of which are counter trend in nature. That is we’re trading against the broader market trends so I suggest that only aggressive traders take on these until you gain some confidence. With the current lack of directional conviction we may get some range bound trading for awhile making these good prospects.

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This post was written by:

Nick Radge - who has written 899 posts on The Chartist.

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