you have raised a good point yurt, and from midway through today's trading it looks like you could be right ......
I have the all ords chart up and the price over the last week has dived below the lower level of the upward trending trading band, fallen further through its first resistance level of 5430 and is now not so far from the next resistance level of 5366........ my set view of the all ords oscillating between an upward trending trading band is now stuffed..
The banks which I took up long before close yesterday (with a complete lack of logic), after some dithering this morning have all continued on down....... fortunately when I saw how they were likely to open I closed my stops right up, so the losses were little....
looking back over the last year there have been some decent downward spikes in December 2013 and jan / feb this year with the all ords reversing back up again ...... then there was a genuinely big correction last june / july 2013
at the moment there are the other world indices are mixed, japan and US in upward trend, the DAX sideways, and china downwards.....
the stocks that I have long are now all definitely weakening.....
I think I might start to bid a bit more aggressively to take up a few more stocks, short - to hopefully ride this down ....... as for my longs - they are very good companies with excellent dvds ?????
