XJO 0.55% 5,927.6 s&p/asx 200

will today be another sell the rally day

  1. 5,331 Posts.
    without wanting to sound to negative, the late rally in the US markets was purely a re-allocation of the $52 billion of funds from the Inbev takeover of Anheuser-Busch, CNBC had been talking all day about a series of late day buy programs to re-allocate the cash.

    like so many times over the last couple of months expect a nice pop at the open and a gradual sell down as the day progresses.

    especially for anz/wbc which will suffer from the DRP underwriters unloading stock.

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