Dow down 232 points-has the final shoe dropped?, page-3

re: Dow down 232 points-effect on our market Well...........looks like the Sept lows are about to be tested again in America......but has anyone noticed how unbelievably well our market has held up in comparison........America falls 150.......we fall 15 etc......we are not even close to Sept lows....

I can see America going to/thru these lows but it'll take much much more to get us there..........our currency will attract A LOT of the money that has to be in the market and basically our market is fair value IMHO.......not cheap but fair,esp after a good lot of earnings results coming shortly (relatively speaking)

I just hope the Dow continues to fall at a steady pace of 50-100m pts a night if it has to and we don't get an absolute collapse which undoubtedly would affect us short term . My measure of market value has always shown the AUS market to be overvalued (in sync with the US)before any correction here and I don't believe our market is dangerously overvalued at this stage.......our companies as a whole have earnings to hang their hat on......America doesn't. Sure our market (ie bluechips) may fall in sympathy to some extent but good stocks will continue to perform......and I hate bluechips anyway!

I'm starting to wonder if the Elliott wavers prediciton of world chaos and Dow 500 around 2003 may not be closer to the mark than I thought!!!