4th August 2009 – Leaning on positives

ASX Commentary

4th August 2009 – Leaning on positives

Wed, Aug 5, 2009

What’s to say that hasn’t been said in the last few weeks? The market took on board any slight positive news and ran with it. Caterpillar suggested its earnings would increase over the coming 2-years and pending home sales also increased for the 5th straight month. Price again saw initial weakness and a firm close. If we can sit here for a few days, even a few weeks, we’d be in a strong state for continued upside.We can’t fight the trend. The risks are not being involved, but don’t get too stupid about it all.

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

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