johnaus - garden variety correction wednesday, page-30

Martis,

a. there was te expected rally. Note it didnt come close to clawing back the losses over the last week. even the trading session before it!!!
b. the reserve is holding rates for a extended period, um like as if that wasnt going to be the case anyway. Also dont that indicate that things are actually REALLY BAD in the coming future???
c. no news of real QE3 was released in reality.
d. the charts are still in a downtrend
e. Europe is in real trouble
f. there is more bad news waiting for us around the corner thats for sure
g. some people are looking day to day others are looking longer term so there will be comments in both directions.
f. Sept is critical and is going to be worse with the US budget coming....
g. roits in London are now inally being seen for what they are, class based and finally they are reporting this.
h. Swan is saying surplus surplus, carbon tax carbon tax, no stimulus for the Australian markets.

Companies are still making good profits is the one thing here thats good, Also I noted that the bounce happened close to the lower 1991 trendline which I keep talking about, history however shows that we always tend to retest that line over the coming months.

Good Luck to you all, I will be making shorter term decisions around 11am today!!!