Gday everyone
Just a simple observation. Looking at the major peaks the all ords over the last 3 months have been 4633 approx. This sentiment is also reasonably consistent with the ftse and the dow. The question that is on everyone's lips is, is the data coming out of the states going to push its indicies further. Markets do not like inconsistancies, a few weeks ago we were on the slippery slide saying that the recession was coming. Two days ago it was uppity up, although the eurobanks were typically dodgy for a day. Maybe this is a warning for a longer term run down. Everything that we see is generally a conjunct for a bigger event. Personal observations of the share prices of most blue chips, they mostly seem expensive. There are a few exceptions but there could be a reason why they are cheap. There is still some movement for the dow, as the last peak was 10699. But if euro zone debt disease begins again, then we are once again standing at the edge of the cliff. The question is there will be time when we might not see the bottom. In the 1964s and 1983s warren buffet in his book 'snowball'he talks about the dow jones indicies rising approx 0.82 points. This was where he made his billions. So what we are experiencing will be the nature of the markets for the next 10 - 12 years. So if it seems expensive, sit and wait. This year the patient one will get the prize. Thats investing I suppose
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- finicky friday
finicky friday, page-77
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