It got a bit closer overnight.
Should've held my nerve on shorts.
Lesson learnt, patience on entry points, discipline on exit. Doh!
Kiwi higher I see.
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It got a bit closer overnight.
Should've held my nerve on shorts.
Lesson learnt, patience on entry points, discipline on exit. Doh!
Kiwi higher I see.
failed attempt to break out of the symmetrical triangle hit resistance at 1990 s&p and reversed back into triangle - still in play ( can go either way)
Yep agree Bull, but pretty strong rejection of resistance levels in the end.
I see job vacancies jumped by half a million in the US! Half a million! From 5.2M to 5.7M (!) vacancies.
I think that includes part time vacancies as well.
This is the sort of thing the Fed will be watching closely as employers can't attract workers its likely wages will have to rise, which is inflationary.
So in our upside down world this was seen as a negative as we are likely to see higher interest rates.
China says they will accelerate infrastructure projects to reinvigorate growth.
Which you would think will support commodity prices, particularly metals & perhaps the ailing Australian mining sector.
If you follow the strict interpretation, you are right. If you look at the leaders on the ASX, they are already well into bear territory. I had a look at ASX20 a couple of days ago and compared current prices against 12 month highs. All 20 were in correction, 16 of the 20 had pullbacks of over 15% and 11 of the 20 were over 25% off 12 month highs.
Call it whatever you like, but I call it pretty ugly.
KW, May I ask why you "prefer" the Aussie mkt. Types of industries? or relative sizes of the companies involved?
I was into Aussie mining for a while a few years ago but it all went pear shaped. I still keep a close eye on it ( my son works in the industry doing engineering ) there will be a rally at some point and I expect it will be "sudden", either your in at the bottom or your left behind... It all depends on world conditions.
You need the new V8 Mustang that's coming...lots of KW's and you'd never be bored...sorry, couldn't resist :D
Anyway...another death cross formed on U.S. Markets and it looks like its a doozy http://www.cnbc.com/2015/09/09/anoth...s-a-doozy.html
Arc, those in the mining sector that have retained an Aussie exposure are doing quite well.
Its the companies that foolishly nullified the Aussie factor by having USD debt are in trouble.
So its a mixed bag. The banks that advised these firms on this debt structure with no hedging etc should be sacked.
Daytr; I must be looking under the wrong rocks,
ASL MAH MLD PAK SWK NWH... all down hill for the last few years. Do you have a different angle on it.?
Im waiting for someone "adventurous/brave enough" to create a deep water robotic rig to mine the Rare Earth Minerals laying on the sea floor around volcanic areas. Apparently the area around the Kermadec trench is quite rich in mineral content...
http://www.telegraph.co.uk/finance/c...d-bonanza.html
http://www.stuff.co.nz/science/52385...mud-of-Pacific
http://seekingalpha.com/article/2093...-be-closing-in
I must admit I don't know any of those stocks & I spent 15 year in mine finance in Australia.
So yes I would suggest wrong rocks.
Like JB Murc, I like some of the Aussie gold miners as their margins have increased dramatically with a lower Aussie.
They aren't as cheap as they were, but some still lk quite appealing.