RB, nice post but temper with .... Booms often go (much) longer that any rational reasoning can explain, and busts are usually caused by black swan events that by definition are NOT known until after the event! (I still scratch my head to believe that a few dud mortgages in US could bring down the world financial system less than a decade ago.)
As I write this tho' it reminds me that
1. we actually had PLENTY of warning(s) of the GFC .... markets (& meio) just refused to believe it IMHO.
2. Fridays Oz performance was certainly extraordinary; I make it the biggest green candle since before GFC highs ..... mmmm I wonder wat that will mean in a weeks (hope thats not weaks?) time ...
cheers g
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