After 8 consecutive day of gains the Australian Share Market looks like finishing in the red. After a positive open to the session we have seen the market steadily track down during with weakness amongst the big banks & miners the catalyst behind the moves lower. Market Turnover heading into the final hour of trade was $2.56 billion which continues its underperforming trend of recent weeks. With NSW school holidays now over, it is interesting to see the market still relatively quiet, to put into perspective the yearly average turnover this year is $5.8 billion, so the current lack of activity is what does worry me about the current rally in local equities. Yesterday was also a quiet day at $3.86 billion so it will be interesting to see when we see some major profit taking if there is any conviction behind it....



James Marlay

good wrap Tristan