Hi there,
I wrote a piece about the Stock Markets in the US and Australia a few days ago.
In it I warned that Friday's 200+ point rise in the US Dow Jones was a false rise. Indeed it was as the last two days in the US the Dow has lost about 45 points and last night almost 300. So that 200 point gain has been immediately lost almost twice over, about 350 points down. I would not touch that market at this time.
The Australian market, the ASX traded lightly on Monday due to a public hoiliday in various States and yesterday was a truly confusing day. Both days the ASX lost points. But yesterday it plunged over 60 points in the first part of the day but at the end of trading was only down 8 points.
Who could predict anything BUT a fall continuing on these markets? NOT ME. I'm an onlooker for now. Sold one stock yesterday, late for a tiny plus but at least I'm out of the market on that one..The Australian market could be heading back under 5000, another barrier point that tends to stop slides. We'll see huh?
I wrote a piece about the Stock Markets in the US and Australia a few days ago.
In it I warned that Friday's 200+ point rise in the US Dow Jones was a false rise. Indeed it was as the last two days in the US the Dow has lost about 45 points and last night almost 300. So that 200 point gain has been immediately lost almost twice over, about 350 points down. I would not touch that market at this time.
The Australian market, the ASX traded lightly on Monday due to a public hoiliday in various States and yesterday was a truly confusing day. Both days the ASX lost points. But yesterday it plunged over 60 points in the first part of the day but at the end of trading was only down 8 points.
Who could predict anything BUT a fall continuing on these markets? NOT ME. I'm an onlooker for now. Sold one stock yesterday, late for a tiny plus but at least I'm out of the market on that one..The Australian market could be heading back under 5000, another barrier point that tends to stop slides. We'll see huh?
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