An interesting day today with many of our picks making an early charge but reversing and closing weak. One pick, MXIM, tagged our target price allowing profits to be banked. ADCT on the other hand hit the trailing stop locking in a minor profit. Why does this matter? Because its the first time we’ve seen it in a few weeks. Action of late has been the opposite; a weak start and a firm close. Whilst we have none of our red alert bars, meaning the market is tracking higher within a sustainable pace, momentum is at extreme readings. I remain very cautious of a reversal of form in the near term and as such will not be making new recommendations until the heat is taken out. The trend remains up.
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Phone: +617 5473 5743
Suite 1/ 21 Sleepy hollow Drive
Noosa Heads QLD 4567
AFSL 288200
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