Market Comments 11/10/2010

The Australian market (XAO) had a small move up today, about +0.5%, to finish at 4762.

Risk appetite was still solid with the Small Ordinaries up 1% while the 50-Leaders was up 0.3%.

The main driver of the market today was Materials, up +1.2%, while the Financials sector was flat, 0%.

There's no sign there that the market is either overheating or inclined to revert to the downside.

This market is a Goldilocks market, not too hot, not too cold, just right.

If Financials join the party - we could see some real sparks flying.

Cheers

Red