Is there anyone who can post a chart comparing NZO daily SP with that of the POO ?? I, for one, would be really interested to see it.
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Is there anyone who can post a chart comparing NZO daily SP with that of the POO ?? I, for one, would be really interested to see it.
Here you go PT - is the correlation close enough for you?
http://h1.ripway.com/Phaedrus/NZOoil825.gif
Phaedrus - great chart - can you add NZX 50 performance as well - I'm sure McD would love to see it...
Previous post -
Market: June -> July DOWN circa 20% (almost a crash...???)
NZO SP: June -> July UP circa 20%
Oil Price: June -> July UP circa 20%
Market: July -> August UP circa 13%
NZO SP: July -> August DOWN circa 16%
Oil Price: July -> August DOWN circa 20%
All time oil high & NZO SP high very close.
Lowest oil price in circa 3+ months close to NZO SP of 1.42.
The NZO share price has followed the oil price disregarding the general market downtrend so far. The interesting bit is about to unfold with the price of oil [according to Macdunk] about to reach $200 a barrel in the next six months crashing the market.
Will the NZO sp follow the oil price up to come crashing back in sympathy with the market or carry on its merry way. China getting back into business plus the northern winter. Then we have China about to take over number one spot at Americas expence. What easier way than bankrupt them. Interesting times ahead, will Macdunk be proved right again sitting it out, or will he have his Macdunk got it wrong thread filled with I TOLD YOU SOES?. Macdunk
This chart shows relative performance expressed as percentage gain starting as from the beginning of the NZSX50 Index.
http://h1.ripway.com/Phaedrus/NZOoilNDX825i.gif
The results you get from charts like this vary a lot depending on the chosen start date. The next two charts show how much this can affect the comparitive relationship between NZO and Oil.
http://h1.ripway.com/Phaedrus/NZOoilNDX825ii.gif
http://h1.ripway.com/Phaedrus/NZOoilNDX825iii.gif
Thank you for posting the graphs P. It's like the market has not factored the rise in value of PRC at all.
Now that the olympics are over, macd, when exactly is the price of oil hitting 200 a barrel and the market crumbles?