A very brief update to my Ramblings. My Genius index this week has hit 104.25. This means that these awfully clever fund managers are now geared long. Bear in mind that in October 2011 they were geared short right at the bottom of the market.
While my Genius Index has been a great longer term indicator it doesn’t turn on a dime so there is no one figure that says the top has been reached. But I take this as a danger signal.
I am looking for lower levels shorter term but this does not change my longer term view – I believe we will go higher later in this half.
Next Ramblings 18th February.
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Last
8,553.9 |
Change
-76.400(0.89%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,630.3 | 8,630.3 | 8,544.7 |
| XJO (ASX) Chart |