Held my longs this arvo based on US GDP being a non event if it came in close to expectations. It did.
Bull case
Aussie market has already factored in US GDP at 2.5 and low growth for the rest of the year.
AU dollar up at 90 cents surely our market is undervalued compared to DOW and Footsie.
Commodities doing well.
No bad news from China so far.
If I was a US investor and based on IMF forcasts world growth is forcast to do reasonably well why would I buy US treasuries, why not buy anything else that is not a US asset i.e. carry trade.
Bear case
Is our market technically overbought? Not my area of expertise so I leave that you guys Volt etc.
Its early in the night so I hope I don't eat these bullish words:))
Love this thread by the way and read it everyday.
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Last
8,784.1 |
Change
-34.400(0.39%) |
Mkt cap ! n/a | |||
| Open | High | Low |
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| XJO (ASX) Chart |