Market Update:

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Our model is now 20% equities – 80% cash. The market environment is still positive but it is becoming difficult to find real value in this market. At this point we are very comfortable with this asset allocation because the risk/return ratio for equities is not anymore attractive.

End of Quarter update

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Hypatia investments model is still 95% invested in shares. If the market starts to deteriorate significantly, the model will switch to 100% cash.

Hypatia Investments performance report can be obtain upon request at hypatiafinance@optusnet.com .au
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SHL (Australia - ASX) offering some value at this level

NWS (Australia - ASX) showing some signs of accumulation

Market Update:

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As suspected last week, the market environment is again favorable. Hypatia investments will be scanning the market for investment opportunities based on fundamental and technical analysis.
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Market Update:

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The market environment has turned again negative. During last week, no transaction has been implemented. The market environment could easily turn again positive very soon, depending on market action. We are in a bottoming process so this type of whipsaw is quite normal.
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Market Update:

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The market environment is now favorable. We are never in great hurry so Hypatia investments positions will move slowly into equities following a quantitative selective approach.
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* USO (USA - AMEX) shows that the downtrend in OIL may have been completed

Market Update:

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At this juncture, the market environment is still unfavorable (since Jan 11 2008). We are in a bottoming process to prepare for the next cyclical bull market. Hypatia investments positions are still in short term money market holdings with a small proportion of the capital invested in gold securities.
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