Black Monday

[Tomtom]

It was a show put up by all techno giants, Microsoft, Google and Amazon reporting strong earnings.

U.S. companies do seem to be doing well but there was no reason to expect otherwise. It’s interesting to reflect that one of the most dominant features of the last two centuries has been an increasing divergence between the ‘developing’ world and the 'developed' world (measured by GDP per capita). In a way the aberration has been the last decade and a half in which developing countries have experienced higher growth rates than developed countries so briefly appeared although they were on a converging path with the developed world. However growth rates are not persistent and it appears the global situation is normalising with economies regressing towards the long term mean growth rates. That’s why it really interests people like me that many have come to see developing countries as a better bet than using resources in developed economies which have an extended track record of outperforming. We should expect companies in the developed world to outperform over an extended timeframe.

[winner69]

New all-time high today of 5971, surpassing 5939 on 5/8/15.

NZ50 Capital Index still 10% off its 2007 high

And 3% off its 52 week high as well

[trader_jackson]

NZ50 Capital Index still 10% off its all time high

And 3% off its 52 week high as well

If we include the 1980's we have a long long way to go for things to crack 3.9k on the capital index (I think this is what the index hit back before the crash in 1987?)

I think today's capital index won't go up 10%, but could go up before the end of the year a little more than 3%

[trader_jackson]

Ladies and Gentlemen, today is the day we could pass the magic 6000 mark!

[BlackPeter]

Ladies and Gentlemen, today is the day we could pass the magic 6000 mark!

Are you sure you are posting this in the right thread? Its called "Black Monday" after all ... some bad news please ...

[IAK]

An interesting article on Stuff yesterday "Buy in gloom, not boom" http://www.stuff.co.nz/business/opin...stment-success
Hopefully, the bear is still in hibernation.

[sb9]

We've just hit the 6000 mark....

[winner69]

We've just hit the 6000 mark....

What do we do know?

[sb9]

What do we do know?

Depends which side of fence you're on, bit tensed if you're a bear and twisting a can of beer if you're a bull...

[Baa_Baa]

Are you sure you are posting this in the right thread? Its called "Black Monday" after all ... some bad news please ...

Black Monday is over, dead, kaput - technically anyway.

NZX powered to a new high closing 6001 today ... woo hoo, never mind the rest of the world, who cares about them. Maybe world peace is about to break out, or all nations sovereign debt will be forgiven, or something profound like that. US stocks pausing ominously (futures down a bit), China down a bit as well tracking sideways, Europe same, Aus same .. all just background noise. Nothing to see there, move along.

Black Monday RIP. It's all upside from here, NZX leads the world. Cough.