November 22, 2008 – Almost, but not quite | The Chartist

ASX Commentary

November 22, 2008 – Almost, but not quite

Mon, Nov 24, 2008

A very volatile session in the US on Friday with one or two of our targets missed by the narrowest of margins. Indeed the short target in HOLX was missed by a mere 3c before the stock rallied hard into the close. Such it can be with trading. We’re not sure whether the strong closing surge in the US was a Friday short covering rally or the start of something bigger. We saw the same thing happen the prior week before fizzling out. Either way we must act accordingly to the information being offered by the market and I have therefore dropped all protective stops tight to current action to lock in profits.

No fills on Friday to report. Account statements as at close:

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

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