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Sharemarket surprises brokers with late turnaround
16:01, Friday, 21 November 2008

Sydney - Friday - November 21: (RWE Australian Business News) -
In a surprise turnaround, the local sharemarket has shed the negative
sentiment that pulled it down in early morning trade to finish in
positive territory after four consecutive days of falls, according to
CMC Markets.
"The session started on a grim note on the back of heavy falls
in the US and European markets [overnight] but we saw the positive
momentum setting in during the last hour of trading today," said James
Foulsham, head of trading at CMC Markets.
"There have been some buyers through the week with traders
looking for a sharp bounce in the market, and it seems we may have seen
the start of this bounce," Mr Foulsham said.
He added, "Nobody has seen the market like this before. The
market can do funny things, though, and when it does finally does turn
around it's probably going to rally hard."