Black Monday

[clip]

oof, very glad I closed my 3x SP500 short yesterday, it's not having a good time today.. down 15%
https://www.marketwatch.com/investing/fund/spxs

[bull....]

Finally we saw something concrete in data which matters ...just a beginning of better times or just one off ...only time will tell but like heard many times on CNBC today that investors need stay in the market rather then trying to time the market

Dr Copper is showing early signs of positivity ahead ....but again before I upset permabears that nothing is confirmed till we get another few more data points showing inflation will continue to cool ...but today's data is surely very positive and its REAL

biggest daily rallies always bear rallies .... moves today suggest short covering and maybe re - positioning ? massive moves lol some stuff
hit the right one and your rich in a day

[SailorRob]

biggest daily rallies always bear rallies .... moves today suggest short covering and maybe re - positioning ? massive moves lol some stuff
hit the right one and your rich in a day

Does that work the other way too? Massive moves lol hit the wrong one and you're poor in a day?

[ronaldson]

NZX has opened strong this morning. Good to see some signs of exuberance on a bad weather day. Maybe the US elections outcome, the retreat from Kherson, and some quite reasonable reporting so far for the 30 Sept half/full year, is helping?

[Muse]

Nice to see a strong rally today - NZX50 up ~2% - off a slightly milder US CPI reading. Should enjoy that.

But NZ has its own issues and drivers. Food price inflation a big one and this mornings StatsNZ was a bit of a shock - up 10.1%
https://www.stats.govt.nz/news/annua...-10-1-percent/

Food prices are notoriously seasonal so when adjusting for these it was even more disappointing to see October's seasonally adjusted food prices went up 1.8% just from September! Off the charts high.

[Panda-NZ-]

Should do a food tax cut instead of a petrol tax cut.

Strange for an agricultural nation to charge gst on food - it's something we should encourage, rather than have even more petrol use.

[ynot]

Should do a food tax cut instead of a petrol tax cut.

Strange for an agricultural nation to charge gst on food - it's something we should encourage rather than even more petrol use.

Agree. We should never have included food in gst take. Govt is dependent on the strangulation it exerts on everyone so I guess we are stuck with it.

[Filthy]

Agree. We should never have included food in gst take. Govt is dependent on the strangulation it exerts on everyone so I guess we are stuck with it.

at least remove it from fruit & vege eh! - a sprig of broccoli 2/3 times the cost a pack of tim tams makes no sense! benefit would flow-over into gov healthcare; might even pay for itself

[ynot]

at least remove it from fruit & vege eh! - a sprig of broccoli 2/3 times the cost a pack of tim tams makes no sense! benefit would flow-over into gov healthcare; might even pay for itself

Australia has always been exempt gst on food. Just makes sense.

[mondograss]

So do you apply GST on rotisserie chickens then? If so what to do about KFC? Is a premade salad with dressing considered fruit\veg? What about tinned peaches? It gets complicated really quickly which is why we went the universal route.