Thanks Ratkin.Well written article and very useful thanks
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Yep a good article as he has a good investment plan..however he gives back too much money to Mr Market for my likening, nowadays trigger signals are more sophisticated...but..each to their own..
Question:...The bull market cycle has been running for 6.5 years...2.75 years longer than the Average Bull...so why does nearly everyone assume this is just another bull market correction and say don't worry don't sell as you will regret it???
Question: what is there to regret when you have the power to sell and then buy back in?...brokeage fees are cheap nowadays
Question: what does a "always hold during corrections" investor do when the index loses -21% sell or hold? or -22%?
Question: What does a "always hold during corrections" investor do when the index correction is -15% and a couple of their portfolio stocks have feared worse.. say dropping -30%?.
Question: Do you really want to stay in an average -15% correction watching your capital shrink, induring disapointment after disappointment, fear of the "what ifs", stress, worry..and relying on "Hope" as an investment strategy?
All the above questions have answers that are neither right or wrong thereby creating investor dilemma...Investor dilemma destroys investor confidence.
Me personally..As a chartist I don't care which way the market goes..bull or bear it makes no difference to me..If my stock creates a sell signal during the red times as it is atm its a compulsory sell...easy!!!..Strict TAers don't suffer from many dilemma problems. I sometime have dilemma problems and it's totally self-inflicted (breaking the discipline rules)
keep calm and keep cashing up, i'm taking a few 5% losses too. Better than 25% losses possible in a few months. ASX all ords looking very sick, NZX not so bad.
Looks like china is getting whacked again and the Dow pre market is not looking great
I'm thinking this is an opportunity to buy, particularly markets that aren't as over valued like the Kiwi & Aussie markets.
Technically they are on the cusp of breaking lower, but they haven't yet or haven't confirmed the move yet.
China I am sure is propping up their market & that should assist other indices around the world as well.
I'm not hugely bullish, but I think this is perhaps just the bottom of the present range trade & trading it as such.
This might help the break - lower that is... I see more red on the horizon, this out of China this morning...
THE Caixin flash China general manufacturing PMI plunged to 78-month low at 47.0 in September from 47.3 in August, a preliminary Caixin survey showed on Wednesday.
A reading above 50 indicates expansion, while a reading below that represents contraction.
The sub-index on manufacturing output retreated to a 78-month low of 45.7 in September from 46.4 in August, according to the survey from Caixin Media Co., Ltd.
"The decline indicates the nation's manufacturing industry has reached a crucial stage in the structural transformation process. Overall, the fundamentals are good," said Dr. He Fan, chief economist at Caixin Insight Group.
He pointed out that weakening factory activity is tied to previous changes in factors related to external demand and prices.
The flash index is published on a monthly basis ahead of final PMI data, making it the earliest available indicator of manufacturing conditions in China.
The estimate is based on approximately 85 to 90 percent of total PMI survey responses from over 420 manufacturing companies each month and is designed to provide an indication of the final PMI.
The final PMI for September will be released on October 1.
Yes, this was primarily what the Asian markets including NZ reacted to today
Keep in mind that China is a controlled economy. The govt is likely to throw more stimulus at it to stoke the fire a bit more, if it believes growth is below their target 7% (ish). I read a good article on CNBC about it today
Head note: DTV = [averaged] daily traded value.
After quite a few thin days today we have
Six companies which have set new 12 month high closing prices today:
CVT - Comvita
NZR - New Zealand Refining
PAY - Pushpay (poor DTV)
THL - Tourism Holdings
TIL - Trilogy International
ZEL - Z Energy
In addition I have 9 companies in the green zone on both price and DTV:
ATM, COA, EBO, FPH, FSF, GNE, HBY, SCL, VHP
and ABA & HLG which are green on price but yellow (reasonable: $80K -> $160K per day) DTV
Looks like there is still some money being made - but DYOR and be especially careful in these interesting times.
Best Wishes
Paper Tiger
Discs:
Own some but not all of the above mentioned shares :);
Also own some but not all of the rest of the shares on the NZX :mellow:;
This is not a recommendation to buy, sell, hold, or make disparaging comments on anything ;);
Start new medicines tomorrow :huh:
Markets bouncing back, DOW futures now 130 pts off today's lows.
Aussie market bouncing as well.
That's exactly right xafalcon & since the G20 I think Beijing has been supporting the market higher.
I track about 68 companies - NZ50 and fringe, using a similar colour scheme.
25 - about 40% - are within 2.5% of their 30 day highs - or better.
Attachment 7616.
- M30, M60, M90, M500 - refers to 30,60,90, and 500 day highs.
- Orange shade = within 2.5% of the high for that period
- Yellow shade, green text and underlined = at a high for that period
- Red text = more than 15% lower than the high for that period
Some NZ shares and likely some NZ share investors are doing well right now.
Both Kiwi & Aussie down with the Aussie in particular thumped.
Great for exporters & the Aussie miners who have maintained an Aussie exposure.