November 9 2009 – Stimulus stays

ASX Commentary

November 9 2009 – Stimulus stays

Tue, Nov 10, 2009

The G20 decision to keep up stimulus put a rocket under prices today sending the major indices up over +2%. The air of confidence has again been bolstered after Buffett’s foray into the railroads purchase last week. Our trend indicators are slowly turning higher again and we can’t ignore the price action regardless of what we think otherwise. The Transports kept pace today. I guess my only contention between today and the June/July lows was that the broader indices and Transports have made a lower low this time around whereas they didn’t back then. We’ll see how price follows through but I’m again on alert for new long positions.

0saves

Save

If you enjoyed this post, please consider leaving a comment or subscribe to our newsletter and receive a free sample of our analysis each week.

ASX stocks

This post was written by:

Nick Radge - who has written 894 posts on The Chartist.

Contact the author

Facebook comments:

Latest Share Trading Articles

The Hidden Strengths of Volume Analysis (part 2) September 19, 2010
In the last article I discussed two examples of how and why volume can show the changing face of supply and demand. When the order of supply and demand is change we will get a change in market direction, sometimes a significant change in trend or otherwise some degree of retracement of the prior move. [...]The Hidden Strengths of Volume Analysis (part 2) is […]
The Hidden Strengths of Volume Analysis (part 1) September 19, 2010
The power of correct volume analysis cannot be overlooked. Unfortunately the ability to read volume correctly is not readily discussed or freely available. Off-the-cuff remarks such as, “increased volume on advances is bullish and increased volume on declines is bearish” are bantered around but that’s as far as it goes. The correct use and application [...]T […]
The Psychology of Trading September 19, 2010
The most important part of investing and trading is psychology. Investing is a constant struggle where the battleground is not the market or advice given but comes from within you. You will face stress over losses, you will be in turmoil in deciding to enter or exit a position and it will place many demands [...]The Psychology of Trading is a post from: Shar […]