asx graphs and trends : spearheaded by us amex, page-4

Once Again, a Relentless Climb

by Rev Shark http://secure2.thestreet.com/cap


It is a typical Monday morning, with a gap-up open and very strong underlying bids. Breadth is very solid at around 3,700 gainers to 1,350 decliners. Gold is lagging again, but oil, banks, steel and chipmakers are leading nicely. Once again, if you want in, there is little choice but to chase things higher. Chips look to be attracting most of the hot money, but small-caps are acting quite well so there is lots of strong action from which to choose. I did a little flipping into strength and am on the hunt for some new buys that aren't too extended. Baidu , in the big-cap momentum group, is looking for a leg higher after some consolidation. Samson Oil & Gas , a small oil, has a nice setup after consolidating a big move