More important, I do not go along with your apparent emphasis on the Dow. To my mind, there is, in general, far to much emphasis placed on all main market indicators, including Australian ones such as XAO. I am not saying that they are irrevelent but just that their significance is overstressed.
Let me explain, by way of example. I dont hold BHP, RIO or any banks, so my portfolio bears little relationship to the All Ords.
The significance of main market indicators is inflated by financial journalists getting paid to fill space daily with events of the previous 24 hours.
To my mind, of the 2,000 or so stocks listed on the ASX only about 20 are true buys.It should not be a question of "Is that shock a buy?" . It should be "Is that stock the best buy?".
In summary, its not main market indicators that matter. What is all important is individual stock picking.
