Hard to argue with poor fundamental outlook in US.
Also asx reached tech retracement target of 5800-6200.
However, cant ignore the contrarian in me that listening to market pundits calling for further downside suggests we just might reach higher. My trading instinct tells me that markets invariably move to hurt the most people. As most of asx performance this quarter has come from bhp, rio and wpl, i think many funds will be underperforming and all hoping for a pullback. What would be more satisfying than seeing these non risk managers panic into buying the top.
Does that sound a bit spiteful..hope not but...
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big drop coming i reckon, page-100
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