Martin may be right so i better buy his newsletter...hello
If these guys were EVER right they wouldn't be spending their time writing newsletters to help us, they would be making squillions of dollars on the market. I'm not saying the market might not go down further, but it could well go up from here. One thing that has been shown thru this turmoil is that Oz is certainly NOT disconnected from USA. And if we are, that OZ investors are lemmings and the yanks will use that fear to give us a financial beating.
Have you noticed how the Yanks wind their market down in the morning and the FTSE runs for cover, then they bring it up after the FTSE closes. The yanks have the poms by the nuts a too.
The stock market has very little to do with underlying business management credibility. If it did Oz and the rest of the world would sit back and watch the yanks settle into their own Poo (like they did to every one else in both World wars). Na the yanks are very clever...if the game is't going their way they'll take their bat and walk. The rest of the world needs to say 'f&^k off', but we are still to scared.
(there that’s one rave over...and now to the dead cat bounce)
We seem to be having a two stage market, BHP et al doubled iron ore prices and the PON, zinc and other have tumbled. Iron ore isn't the only ingredient in building an economy. And the Chinese are not going to be turning theirs off too fast….and they certainly wouldn’t be doubling prices if they thought they might. This financial crisis is just that a crisis and it will pass. If you hold for the long term you should be ok, short term…sure losses and lost opportunities. We have this crisis because of greed, there is no underlying short term oil problem, it has been caused by speculative hedging. If “A” goes down buy “B”, so we all run off and buy “B”…and martins treasury bills. When you are loaded with treasury bills the best way to get ride off them is to tell the punters to buy them. As they say ‘it’s time to get out of the market when the taxis driver gives you tips’…’and it’s time to get into the market when everyone is running out the door’
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