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10-09-2015, 06:39 AM
#621
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.
Hopefully you find my posts helpful, but in no way should they be construed as advice. Make your own decision.
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10-09-2015, 07:19 AM
#622
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)
one step ahead of the herd
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10-09-2015, 07:31 AM
#623
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.
Hopefully you find my posts helpful, but in no way should they be construed as advice. Make your own decision.
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10-09-2015, 07:52 AM
#624
Originally Posted by ratkin
The Australian market would have to fall to 4800 for a bear market to occur. So far we have had nothing more than a bull market correction. Bears and recessions are a bit like thee chicken and egg, either can cause the other. However just because a country falls into a recession does not necessarily mean there will be a bear market
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.
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10-09-2015, 09:00 AM
#625
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.
Last edited by arc; 10-09-2015 at 09:04 AM.
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10-09-2015, 09:21 AM
#626
Originally Posted by KW
Depends which country you are talking about. Canada is in recession - so their's is likely a bear market. Australia is heading towards entering a recession - so theirs is to. US - may escape recession, so might just be a correction. China - full on bubble burst, so a bear. NZ - will be interesting to see, will depend on whether the dairy industry takes the whole country into a recession or not (personally, I dont think it will, but what would I know?).
My comments are always to be interpreted as referring to the ASX as that is where I invest, I'm only here in the NZX threads because I'm bored
You need the new V8 Mustang that's coming...lots of KW's and you'd never be bored...sorry, couldn't resist
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
Last edited by Beagle; 10-09-2015 at 10:03 AM.
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10-09-2015, 09:52 AM
#627
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.
Hopefully you find my posts helpful, but in no way should they be construed as advice. Make your own decision.
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10-09-2015, 10:25 AM
#628
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
Last edited by arc; 14-09-2015 at 08:10 AM.
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10-09-2015, 10:46 AM
#629
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.
Hopefully you find my posts helpful, but in no way should they be construed as advice. Make your own decision.
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10-09-2015, 10:49 AM
#630
Originally Posted by arc
Im waiting for someone "adventourous/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...
This sounds like a job for CRP.....
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