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September 24 2009 – Caution

Fri, Sep 25, 2009

US Commentary

I am very cautious of this market at present and have increased my hedge from 20% to 40% overnight. We highlighted in last nights Dow Jones report numerous bearish technical signals that were coming together. if we see follow through it could drive the Dow down toward the 8900 – 9000 support, about 700 points from current levels. Like the ASX yesterday, the weakness over the last 2 sessions has been enough to turn Daily Momentum into the red.

About the Author:

Nick Radge has over 25 years’ experience in the financial markets. He is Head of Research & Trading at The Chartist, manages money using active management strategies and consults to various financial planning, stock broking and accountancy firms. He can be found on Facebook, Google + and on Twitter.

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