Ann: Renard Project Update, page-130

Markets correct heavily now and then, it has to blow off over valued banks and tech stocks, AI, etc.
A semi panic, and mondays US open was a shocker (opened down 4.5% approx) but was climbing back up from the open to finish 2% down approx. Noting that a lot of the ASX 200 is made up of our banks, and large miners BHP and Rio. What bemuses me is that a market correction, on the major index, has almost nothing to do with the macro nuances of individual sectors, or stock specific, just a knee jerk reaction and flight of fear by the big chooks that rattle all the others in the tree as well. And when the lithium sector is already smashed into bear territory, panic portfolio selling is just another discount to already discounted assets. How wide that window is further stretched open, beyond sector dynamics is any ones guess. Its really just a question of how many more sellers are willing to capitulate in a general sense, rather than the balance of fears and recovery dynamics within individual sectors or stocks specific.

Nothing has really changed from a development case for WR1 or nay. Yet the price is simply effected by the turnout of how many on the day, turn one way or the other to discount their holdings to the waiting accumulators, or take advantage of that discount, and fatten the buyer pool. Its the same fear and greed in play, simply another psyche of angry bear that comes out to try and frighten the kiddies. When the kiddies are toughened up, they will just sit back and enjoy the show and the bears will eventually retreat to their caves.

this is from a US newsletter i get.

"Last Friday the jobs report showed that unemployment was up to 4.3 percent in July, bringing the three-month average to 4.13 percent. The three-month average in the same period last year was 3.63 percent, which is a strong indication of a recession if you consider the "Sahm Rule."

The Sahm Rule is named after Obama-era economist Claudia Sahm. It states that a recession usually follows when the three-month unemployment average is more than half a point lower than the three-month average the previous year. This has been true every time this has happened since the 1970s and now those conditions are met.

Major banks are predicting interest rate cuts when the Federal Reserve meets again - by up to 1 percent per meeting, which, according to economist Peter St. Onge, "qualifies as panic in Central Banking."

The good news is that most Americans already feel like they live in a recession. It's the media and politicians that are pretending otherwise."