How bipolar is this market?
On 6 Nov when WAAAX stocks dropped 4% in a single day, I noted here stating that it was irrational and over the top response.
What did the market do then? Short memory all over, and in one week, it has gained 13.8% ! It has gone crazy the other way !
Justified? Fundies beating the drumbeat on XRO and APT, and the rest is history. Oh, these fundies may well be taking the chips off the table while the exuberance last.
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 0 30/10 Start 6/11 14/11 Chg% from start 1 Growth Stocks (WAAAX Index) 100.00 95.89 109.16 9.16% 2 1 AFTERPAY (APT) $ 28.65 $ 25.94 $ 31.60 10.30% 3 2 WISETECH (WTC) $ 25.89 $ 26.09 $ 28.59 10.43% 4 3 XERO (XRO) $ 69.26 $ 67.50 $ 77.63 12.08% 5 4 ALTIUM (ALU) $ 31.67 $ 31.34 $ 33.98 7.29% 6 5 APPEN (APX) $ 21.76 $ 19.96 $ 23.00 5.70%
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