The Dow Jones industrial average fell 268 points, or 1.5%, to...

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1,630 Posts.

11/12/14

10:14

Post #: 14443516
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Originally posted by Daytr ↑

Global equities crumpled overnight after a few weak days in a row.
Two days ago we saw the Greek market hammered 11% on debt & political upheaval.
Italy was downgraded 1 notch above junk, but apparently that isn't a problem for some. I assure you its a very real problem.
Japan downgraded & facing an election & recession.

I was so close to shorting the DOW yesterday I even had an order in that would have been filled if I hadn't chickened out & cancelled! DOH!

I have been calling for a decent correction in US equities of around 10% perhaps more. Who knows but its the sort of action we have seen all year. It may create a buying opportunity if we see that.

Gold didn't gain any benefit, in fact is down marginally, and down a little also in Aussie terms from its peak of around A$1485, now A$1476, still a great price compared to the last 12 months.

I flicked out of most of my gold stocks yesterday, still holding some.
I had the view we might see a pull back in share prices after some very strong spikes in some & freed up cash to try & buy back in lower. Still short Euro, but out of the money, but have added to position as I think its only a matter of time before the Euro continues its slide.

Cheers Daytr

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The Dow Jones industrial average fell 268 points, or 1.5%, to 17,533.

Benchmark U.S. crude declined $2.88, or 4.5%, to $60.94 a barrel in New York.

The Bond King, Bill Gross, said the U.S. is still highly leveraged and that there are structural demographic headwinds, including the effects of technology displacement, which lower real growth.

Gold A$1472.79.
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