I bet there are few people pleased to see the end of this week. I hear talk of Mr. Trump firing the independent, privately held FED banker Mr. Powell after daring to challenging him with this latest interest rate hike and its apparent effect on the DOW and markets in general.
My records have the DOW down some 930 over the last three days of trading I wonder how many Billions of Dollars that would see blown into oblivion for the time being. Just hold on for the longer term I hear the call!
One of my regular news letters tells me the AS 200 is now back to its 2006 level apparently this last week alone has seen some $20 Billion dollars wiped off the value of the ASX.
Earlier this week markets tumbled with the ASX 200 losing $20 billion! The big banks are not helping things on the ASX either WBC down 1% NAB 1.1% down CBA 0.6% down and ANZ down 1.1% to its lowest price in six years.
Hi, Skol: CBA now needs to rise some 41% from todays close ($68.48) to get close to its March 2015 price of $(95.92) but don’t let that stop you from telling us all in here what a winner you are!
Oil is often seen as a general indicator of market strength; however, I notice Caltex (CTX) and Santos (STO) also had bad weeks being down 1.7% and 0.2% respectively.
The next trading day being Christmas eve and considering my points above it would appear that a Santa Rally may be a difficult act to pull off even for the most diligent PPT member.
Those with the Rose-Tinted glasses that still think it’s all going along nicely and that these horrendous debts just don’t matter or the even the more humongous unfunded liabilities and that these low and negative interest rates and other emergency measures still in place since the GFC are of no consequences I say Bah! Humbug!!! (A seasonal gesture from Andy.)
Not for Mr’s Igo’s little boy I will continue to hold onto my physical Gold as protection for my future purchasing power.
To those waiting for and expecting some kind of Santa Rally on Monday I wish you luck and commend your stoicism, personally I don’t see hope as much of a market strategy! But what would I know?
I see a little interesting snippet from the ASX listed company that uses my surname as it’s stock code.
One can only wonder if the decision to commence mining underground and most probably at a higher cost is influenced by the company’s expectations for the Gold price next year and beyond.
So far here in Yorkshire it’s been relatively mild and no snow as yet; however, I notice the squirrels pinching the peanuts from the Blue-tit feeder these days. By the way I am an equal opportunity wild life feeder here and I do put out separate nuts for the squirrels!
I wonder if this is similar behavior to me laying in the single malt and popcorn to continue to watch the halfwits down in Westminster tear themselves to shreds running about like headless chickens afraid of the unelected European swill feeders from the ever-overflowing public trough!
To all readers here please accept my wish for you all to enjoy a safe and Happy Christmas holiday season with your families and friends and whilst I feel 2019 may bring it’s challenges, I’m sure many here will still manage to prosper!
Many thanks for all banter during the year and a special thanks to Skol and his particular brand of humor it has to be humor doesn’t it!
