snippets - week ended 10 july 09, page-4

Hi Folks,

I've been very bearish regarding this market for some time.

I expected a bounce about now - but nothing like we've had today.

On the basis of today's action, I may have to change my view of this market.

Today's up volume to down volume ratio was a mammoth 9.8:1. Those sorts of figures are rarely seen on the Australian market.

Total volume was again low at 869 million shares traded. That's the only reservation I have at this stage.

At this stage I've changed my sentiment from sell to hold.

Cheers
Red