The last post of mine had en error which would have been picked up by most of you. I should have said CSL would bounce like a steel ball dropped from a great height, rather than being a released spring. Either way, major moves in markets or stocks almost always are followed by counter moves, before the underlying trend overcomes the action.
I would be surprised if CSL quickly recovers to where it was in the last 2 strong weeks. Rather, I'm expecting some strong selling to pull it down towards the 30 range, and maybe even below. Of course, if the US dollar becomes the sacred haven as the markets are pointing to then CSL should benefit and overcome its spate of bad press of late and to fight the tide being pulled from under it.
The timing has been all wrong, as CSL was well and truly ready to rise above all others during this historical period in the markets. The truth in global economies is starting to come home to roost, and that is that money actually doesn't grow on trees - that those who are responsible for believing that it actually is are being punished, and that credit is rapidly becoming a privelage and not a right!
Credit ratings are now going to be the 'in theme', and various nations and banks will be vigilant not to have their ratings dropped to junk status (a al Greece). The end result will be the soarest of hangovers this generation will have ever experience and most will be demanding what the hell is going on!
The bottom line is that no trend lasts forever, yet most are incapable of thinking 'outside a trend'. So when the unthinkable happends then the enevitable result is fierce.
Think tulips, the roaring 20s, GM Motors, Kodak, the US housing market - these trends were real, at leat they appeared to have had the majority bluffed until the truth surfaced.
I'm just a little negative right now; my way of thinking is that we are on a knife's edge, and kind of on the wrong side. Our economies globally are one big fake scam, where we have all been conned into believing things are actually better than they are; how else is anyone going to sign up a $600,000 mortgage that's gonna take him and his wife the bast part of their adult lives to repay!
CSL? Going by today, if you want to maintain exposure in the market I say is the best stock to hold right now.
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The last post of mine had en error which would have been picked...
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Last
$303.99 |
Change
-2.040(0.67%) |
Mkt cap ! $147.1B |
Open | High | Low | Value | Volume |
$302.89 | $303.99 | $299.73 | $160.3M | 529.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 434 | $303.41 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$304.00 | 1426 | 6 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 893 | 303.200 |
1 | 1237 | 302.850 |
1 | 73 | 302.750 |
1 | 913 | 302.740 |
1 | 1237 | 302.660 |
Price($) | Vol. | No. |
---|---|---|
304.000 | 926 | 5 |
304.020 | 247 | 1 |
304.060 | 1012 | 1 |
304.070 | 73 | 1 |
304.140 | 1005 | 1 |
Last trade - 16.10pm 04/09/2024 (20 minute delay) ? |
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CSL (ASX) Chart |