Another day to forgetYes GTR finished 1 pip down to finish on...

Another day to forget

Yes GTR finished 1 pip down to finish on 1.6c. Our volume was same as yesterday, around 14m shares traded.

ASX U stocks were also in decline. Of the 19 stocks I track, average decline was around 9%.

After another meltdown in US markets, punters were looking for cover. Overnight US U stocks also had a steep decline. U Future also dropped sharply, $1.50 down to finish on $50.90.

Today though I picked up a some GTR oppies at half cent and few other U stocks. Not sure whether this bottom but have done my staggered buy.

What next - The market is on very shaky grounds. Talk of recession gaining ground. Tomorrow US interest rate rise can provide another push down. EOFY sell in place. So over all not looking good. Our best bet was that the sector decouple from general markets - but at this stage there are no signs that it is ready to take that stand. Hence we sink with the market. US markets have decline around 9-12% in last 4 trading days. How much more? There has to be a relief rally - but will that come later in the week after Interest Rate rise call. ASX stocks though pared their losses in late afternoon trading and stocks were clawing back. But not much. A clear sky is far away, best we can hope is for showers instead of torrential rain. All the best.