moody monday, page-44

while there was some bounce back in the index,bank shares didn't move far off their bottoms and cept for cbc almost all are still down 2-4%. Unless financials rally, this market ain't going far to the upside... and the copper rally will probably fade, cos its mainly related to chinas weather probems atm.. the oil rally is likewise counter trend now cos demand is shrinking imho...meanwhile, there's the ongoing cdo liquidations, which put downward pressure on all markets..

On the value front, the rba outlook for two more rate rises in the next two meetings must put pressure on the xjo high divvy stocks again soon.. banks took a hit today but there are others yet to follow.. eg small caps and domestic property and domestic infrastructure..

I took a hit in paper value of some stocks today (mainly thanks to one humungous sell at market order in one stock) but also sold some stocks that had done very nicely since I bought them recently, so overall, cash value is improving all the time.. and proportion of cash across accounts is back to about 50% now.. and I don't think its time to buy again yet, tempting tho some valuations are.. this doesn't yet look like a bottom.. fwiw.