The market can stay irrational longer than you can stay solvent. (JM Keynes). This market sure is irrational. O&G shares struggle to go up even when POO goes up, yet the AOrds powers up day after day regardless. If I heard Alan Kohler correctly the other night he said that this has been the fastest rise in ASX history. My feeling is that this would be a very bad time to switch from O&G into AOrds, but then I'm assuming that at some time a teensy weensy little bit of sanity has to creep back into the market - and that could be a stupid assumption.
Maybe we will discover one day what it has all been about. Is HK money fleeing into Aus? Is the AOrds going up simply because it is going up - ie, fomos piling in after momos? Is the economy actually in great shape, unaffected by lockdowns, Chinese venom, etc? Or is it funds window-dressing at EOFY?
I'm sitting on a high percentage of cash, and it has hurt like h*ll over the last few weeks, but I'm going to hold firm well into July, at least. Hope it doesn't get to hurt even more!
- Forums
- ASX - By Stock
- SXY
- Ann: Senex completes $400m transformational Surat gas project
Ann: Senex completes $400m transformational Surat gas project, page-35
-
- There are more pages in this discussion • 2 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)