China's shaping up to be a complete disaster in my view,I guess...

China's shaping up to be a complete disaster in my view,I guess the smoke and mirrors trick might take them a bit further down the track , but the current set up in their property and infrastructure sectors is unsustainable and of course the bigger they are....

Having said that everyone knows it , no one more so than the Chinese so we're at least now looking at how the blow up can be contained or at least the ways in which current practices can be curtailed .At least I'm hoping that's what they're thinking .

Normally you'd be looking for a bottom and how much you had to throw at the beaten down areas such as resources but it's evident to me that the resource plays have a lot more potential downside than upside ,at this point .I think if the POO falls over in the next week or two it's goodnight nurse .

This last week of June is going to prove uglier than normal for the specs and you're seeing people offload positions at whatever they can get out at .If you're in there it's not logical to trow them out at these prices but the catalyst for a sustainable bounce there is not presently on the horizon.

I must say I got it wrong on gold most of the way along ,just another salient reminder that when you realise you might have got it wrong dispose of your positions immediately ,don't sit around maintaining the noble faith ,you can change your mind inside a minute if you need to ,one of the redeeming features of the market. I never thought we'd see these prices in some of my favourite gold stocks so now it's just a matter of sitting back and seeing what unfolds

There really does seem to be an unwinding of many plays at present ,the resource plays ,the gold plays ,the yield plays,when they start to move in concert like this it's best to get out of the way . The market always rewards those with cash and patience once the bear sets in ,there will come a time when we can make a lot of money again out of the market ,it's just a matter of staying attentive