Curmudgeons Friday, page-3

Yes - It's Curmudgeon Pride Day.  Yes - I'm a Curmudgeon and Proud of It.  You lot just wait.  We're planning a Parade down Oxford Street.  Me and ten other Zimmer Framers !  We'll show 'em.





The Australian market shrugged off overseas gloomy sentiment to finish +0.6% higher after spending much of the day in negative territory.

Today was Options Expiry Day.  Volume was elevated.  We had a good intra-day reversal - unusual on OP/Ex Day - but there it was.  Market Makers would have been happy with the down trend early in the day - that would have put a lot of Call Options in negative territory.  But the latter part of the day wasn't so much in their favour.  BHP, for example, finished at 15.10.  I'm sure the Market Makers would have preferred a close below 15.00.  CSL finished at 107.14.  The MMs would have preferred that to finish below 107.

But - What Do I Know?

Here's the XJO chart:



The chart is at the lower end of the cycle according to the Indicators.  Indicators are turned up so more upside can be expected in the short term.

In the long term, until the chart gets convincingly above the 200-Day MA, there's not much point in committing large sums of money into this market.

This is a trader's market.  If you're a good stock picker, or nimble trader - go for it.  Good luck to you.

RB.