Seems to me with this volatility that well placed rumours is the new terrorism of the decade. Simply have an organized group place a doomsday financial rumour or two, short the stock and make a fortune when the market realizes it is crap and rebounds. I wonder if Aussies will fall for it today.
The three major ratings agency have said it's crap, France wants an investigation as to how the rumour started.
Aussie stocks are strong, simply speaking, our banks are making more money than ever, I think it's around 97% in Aus dollars, dividends have never been higher (share record dates over the next week or so). Not to mention the strength of our major miners and the cheap prices their shares are at the moment.
My question is 'When are Aussie investors going to stop being led like sheep?' The main ones making fortunes at the moment are brokerage firms in trading fees.
Okay I've had my little rant, I'll go back to my coffee now.
