You would think so, isn't it - and that would make sense.But...

You would think so, isn't it - and that would make sense.

But that is not what I am reading when I am looking at the trades. I want it to go much higher from here in short term, but unfortunately I don't have any power. So my comments were around what I am reading rather than what I want.

ASX U trading has completely perplexed me this time. I have done some rough calculations between ASX U stocks and US U stocks. We are now trailing US U stocks by roughly 15-20% - which is huge. In the September and mini November run we either ahead or par with them. Not this time. Why? Don't know.

In my weekly report on the weekend, I do drop from highest percentage. There are heaps of stocks that are 40-50% below September highs. Not US stocks. They are getting closer.

One thing is clear that ASX U crowd has become very conservative. Everyone is trying to protect a loss rather than taking a slight risk and going for big gains. Which doesn't make sense - but that's how I am reading it. All trading is happening as if there is a big bad news round the corner. This fear has made the punters overlook all the bullish U sentiment in other parts of world. Again, why would that happen? Most of our ASX U stocks also get traded on US markets as OTC, so they should get picked up there and we should follow. But that is not happening - till now.

I think there will be a catch up and sanity will prevail. What I am not sure is about timing. When that happens, ASX U stocks will be a runner and have big gains. Till then, its a watching game. Load up, look for signs. For those wanting to trade, there could be a big jump when penny will drop - I am vigilant and waiting. Lets hope it happens sooner than later.