the old dog usually gets it right I reckon
5866 ... and falling
Room for a Pause now!
The pause has started, but in the industrial sector more than the mining sector. The US market has hit the Oil ShockU button. As the bears take grip in the coming weeks, for what I believe will simply be a correction, it will be fascinating to see how base metals hang in. My downside case for copper has always been US$2.20 a lb in later this year. The bears should weave some fear into the argument as to the likely knock-on effects of a US recession on the developing world.
It is worth waiting for this market to settle back around the All Ordinaries Index levels of 5600-5700; though unlikely it could just spike down to March lows. This week the YMW Portfolio fortuitously sold its smaller holdings so we have some firepower to take advantage of weakness
5600 again ..huntley
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Last
$63.41 |
Change
1.050(1.68%) |
Mkt cap ! $12.29B | |||
| Open | High | Low | Value | Volume |
| $62.99 | $63.47 | $62.92 | $27.43M | 433.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 734 | $63.34 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $63.41 | 1023 | 2 |
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| Last trade - 16.10pm 11/07/2024 (20 minute delay) ? |
| ASX (ASX) Chart |