Morning Traders,
Seems to me that as profit get taken in the ASX large and mid caps, some of that money usually flows into the more glamorous spec end of the market and that is what seemed to start happening again yesterday. So many smaller companies with announcements or progress or decent financials are starting to get noticed . May also coincide with the sell the news from the reporting season which has just concluded. Regardless of the individual factors, there is now a general sense imo that many of the top half of companies on the ASX are well valued, if not slightly overvalued and many reports are not seeing the economic growth trajectory that these high values should suggest.
So there could be some rotation our way as the haevier end of the market tapers off.
In a nutshell, I'm suggesting we may well have a nice run into the festive season from here so stay tuned and do your due diligence and things may turn out nicely. These are general comments of course, but we are in the business of picking trends whether we realise it or not.
Good fortune to all and have a great day.
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Morning Traders Friday 2 September
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