daytrading july 29 morning, page-99

Lol sorry Endless, I am off the hook with opening the arvo thread now, joke :p just been running around all morning.

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Something interesting here. Could be a good signal to start accumulating if the big guns wanting to release this info - Reverse psychology:

Strauss what do you think? hehe :)

J.P. Morgan is expecting the ASX to slide back to close the year at 4800.

Analysts Paul Brunker and Cheryl Ng said they expected the ASX to stay at that level until next June, citing resistance from weak earnings and concerns about China.

‘‘Looking further into FY14 we expect sentiment on domestic growth to weaken, and we see no early end to caution on China,’’ the pair said.

‘‘Valuations of Aussie non-commodity stocks are high relative to world markets, and we see specific multiple risks for the Banks as the labour market softens.

‘‘The China risk premium may seem elevated, but we cannot see why that will change. We think markets are developing strong immunity to stimulus measures, which are seen as deferring adjustment in the financial system and the pattern of growth.’’

Brunker and Ng said they are maintaining an underweight bias in banks.

‘‘We stick to a neutral in mining, as negative sentiment and the AUD are supportive, but we see little upside potential. In the commodity space we prefer energy.’’