capital raising, page-32

I hadn't noticed until this morning when I looked at the charts of the Dow and S&P500 that both have been slowly rolling over since about July 20th but the local market has been powering on which is a bit unusual. However with the RBA decision yesterday not happily received and the futures looking a bit soft after another ordinary night in the US, today might be a bit soggy.

The bounce following the 4C seems to have restored some balance to the AJX market with both trading volumes and market depth picking up to a much healthier look. However following the dump yesterday taking some steam out of the position and the soft markets it seems to me that we are likely to see AJX marking time now and the momentum from the bounce on Monday might wane somewhat.

The impression from the commentary is that mostly people believe the hiccup generated by the 4C is probably just an abberation of timing not substance. Some seem to be getting the impression that something is afoot, possibly the US listing or maybe some sort of deal related to licensing or partnership but all of it is just conjecture at the point.

It is hard to imagine that the SP trajectory is going anywhere without some further confirmation from AJX related to the numbers and/or further strategic announcements. So I think it time to sit and wait for something to pop up unless one or more of the heavies decides it is time to get into the game, that would be good.

I did hear one market commentator say this morning that the falling interest rates may point to more emphasis on growth rather than value stocks which is where AJX sits today.