The US and Europe already know that they cannot afford to cut Russia off the world market when it comes to buying energy and precious metals from Russia. The US market reversed and jumped when it became clear that the US and Europe could not stomach the pain. The early success of Russia seems to indicate that they might win with minimal bloodshed and set up a new puppet government in Kyiv within a month, and immoral but stunning victory when compared to all the ill-fated US adventures in wars. Trump is calling Putin a genius.
Putting all this aside, I think the market is actually good from here! The worries are out of the way. Stocks are battered. Bottom picking will be the game of the day. WBC might start going up again despite its massive run from 20.30 only a few weeks ago. I think punters will be scrambling into buying today. However, banks are probably the weakest as they have been running up a lot recently.
I can share that it's no good these days to buy and hold most stocks because the market is so manipulated. It only works for buying promising companies when they are battered on the market and hold them for over 10 years. For stuff like the four big banks in Australia, the share price have hardly gone up for the last 15 years! The only exception is CBA. The banks are milking cows paying big dividends. The only way to get a bit extra to beat inflation is to sell when they are high and buy when they are beaten really low by scandals and the shorts!
WBC Price at posting:
$23.13 Sentiment: None Disclosure: Held
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