Oil's rise is a mystery. Supply still exceeds demand atm so I'm sure there'll be articles in the coming weeks to explain what went on after it plummets again. And the US markets have gotten waaay ahead of themselves trying to initiate a recovery while unemployment hits 30Million and shows no signs of recovery although it is slowing but given the initial tsunami of registrations, that's to be expected. I doubt more than 2/3's of those out of work will be re-employed within a year.
Sorry to say but I maintain SP's on most equities at the moment, especially oil, are in a false dawn. What's terrifying is how the US equities are rallying on the outlook for any improvements in the China virus curve while managing to completely ignore the crater blown in the economy. It's as if they don't want to face up to it or are unable to handle more than one issue at a time. Worse is how the ASX dogs along with the US as if there's any relationship at all. Their whole market seems to be resting on the back of 5 stocks and ignoring the other 1000's. 80% of US trucking companies are severely hit. Driving season is cancelled, flights cancelled, on and on. There's a long way to go yet.
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Price($) | Vol. | No. |
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