April 27 2009 – All square

ASX Commentary

April 27 2009 – All square

Tue, Apr 28, 2009

As far as formal recommendations we closed our last long trade out last night for a small profit. TXRH was entered several weeks ago circa $10.00 and exited with some slight slippage at $10.90 last night. There continues to be many bullish patterns developing but the divergence remaining in place on the broader index is enoough to stand clear for a week until it full unwinds. Once that’s done we may be in for a very bullish phase to come. There aren’t a great deal of bearish setups that take my fancy so I’m happy to stand aside for a week or two for the market to define its current purpose.

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

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