I think Japan was probably a bit over done on Friday--made up a bit today
Printable View
Theres just about every prediction imaginable at this stage--some say a ''screaming buy''...others just the opposite --this from the Elliot wave folks
The bottom line
Accelerated by the Brexit vote, the S&P 500 confirmed a correction that should pull the S&P to 1,970-1,925 (possibly even lower). There should be rallies along the way (potentially powerful), but it appears the overall trend will be lower for the coming weeks.
If it does go pear shaped ,there will no doubt be some dead cat bounces along the way.
^ Agreed. Deadcat bounces are what I'm a bit nervous about. Reduced one of my holdings significantly, just to cover my ass. The whole 'too many eggs in one basket' scenario.
My feeling is that Britain will negotiate agreements with individual countries much along the same lines as they have under existing EU agreements.
Look to the agreements and rights that Switzerland has as an example of a non-EU member interacting with the EU.
http://www.theguardian.com/politics/...ndum-heseltine
The common folk cant be allowed to win the referendum, better make it best of Three
Rep, you may remember Fords and Honda's from Wiri but my very first job in nz in April 1960 was assembling Fords at Gracefield, Lower Hutt. As to putting all eggs in one basket, all mine are in spk and I trade from there. I bought the block back about a week ago and intended to sell on friday? while the vote was still being counted but waited for an extra cent or two but missed the bus and down they went. But, now they are back to my cost price and I must sit on the screen waiting for another 3 to four cents to make a profit. I am using this time to put down a couple more washes for my still as supplies are getting low. My son is Bank of America, London, but I haven't heard a whisper from him.
Not all the common folk voted in the first place. Now when the repercussions are more obvious, give them a second chance. In the first place, when you factor in the turnout, less than half the electorate voted for a change in the UK's arrangements. Also Farage himself had called for a second referendum if the Brexit side lost....