While the indices stood relatively stable, it continues to mask the sell-off that continues amongst the better class small and microcaps especially those that have gone up rather substantially in the past. It didn't take a Wall St sneeze nor any bad news locally nor the trade war, it just happened and it snowballed without a reason. Perhaps people decided to sell for proceeds for the Christmas season spending , while there are still gains to be made. Or perhaps everyone thought they would be clever to sell ahead before the Dec 15 when we will know if POTUS decides to slap China with another round of tariffs.
Whatever the reason or reasons, this obviously has not panned out well for Aussie investors. If we go downhill so much and so far while US markets is going well, we won't be spared either when US markets retrace. But this kind of unusual stock behaviour /reaction was what I observed and highlighted before since a month ago, and makes this market now UNIVESTABLE! If you can't win when the US markets are doing well, well you just can't win then.
You clearly have to be in the right stock at the right time to do well in this kind of market - and a right stock today may not be in a week's time; with little predictive pattern one could easily be blindsided when the unexpected happens and there are lots of edgy nerves out there especially amongst short term investors and speculators (long term investors may not have checked their share price since last week but that may be a good thing because their 20% loss may be a thing of the past next week, or maybe not).
