good morning everyone - happy Friday ; I hope it's a profitable one.
I haven't been the first one to post in a while.
here's my 2 cents worth.
firstly globally - every country is getting there second wave of covid . overnight UK announced there new restrictions in response to rapid rising covid.
USA the numbers continue to be scary . on top of covid there is the uncertainty of the election and the stimulus promise .
USA markets have closed slightly in the red in the last 3 days. please be weary if your holding any stocks long term.
here the ASX has closed 8/9 times in the green. companies are very over valued in compared to there financials .
it's because of all the new money that's being invested. mr and mrs Smith - haven't gone on that holiday or haven't bought that new Mercedes and have pumped it into the share market.
don't believe all the hype about the property market - rebounding strongly in every state expect VIC. colliers international released a report yesterday saying commercial sales are down 85 %
let me tell you this is Chinese investors Arnt snapping up the land - to build. who are full with $$$$
John citizen and Shirley temple can't afford there first family home or a investment property !!!!
please be weary - as I think today and in the coming days we are in for a blood bath .
unemployment creeped up 1% , RBA are signally a rate cut coming up.
but the biggest factor is finally the AUD is falling . these levels haven't been since since the 6 , 7 weeks after the lows of March !!! in response the FED bank has done a good job manipulating the POG away from the highs so investors Arnt scared as a high POG is a safe heaven. when POG hit over $2000 USD the Dow was at around 26500 points . keeping the POG under $2000 usd is good for investor confidence .
but with rising covid cases , election uncertainty, stimulus promises , currency finally falling - I think it will finally start showing .
they say the share market is 6 months in front of the current times - nothing has changed since covid first hit globally . only thing that got us out of the rut is all the monetary and fiscal policy which helped investor confidence .
be careful - I been a big fan of gold and I still think will be over $2000 USD come Christmas .
