monday trading

Hi all,

Our bull market is continuing and no sign of a correction as yet. We seem to ignore the US market and just power on with money coming from takeover and superfunds. The recent takeover is Coles and money will flow through another stock and keep the market up. At this rate we'll hit 7000 before June and it help when you got analysts talking up as well.

The exhuberant is out there and will be a matter of time before we'll see a correction. The trigger will be when there is no more talk of takeover and may be when one of the private equity fund get burn.

I was surprise how weak BHP & RIO were on Friday and base on more strong close, especially RIO, in London and US last night, we should see BHP & RIO open strong on Monday.

If they're buying resource on Monday then we might see some banks weakness but if banks continue to power on then we're going higher on Monday, again. But if BHP & RIO have another nothing day, then perhaps the market is feeling a bit dizzy at record high and may be we'll see a correction.

Personally, I am expecting strong resource and some profit taking on banks and market will close around par value. Good luck