monday mess, page-33

shaizeev, theres very little strength in xjo and little sign of a bounce off the lows so far, but this is also the low volatility part ofthe day usually so it may not mean much.

xjo has been dropping because of overseas investors mainly, I think. The few indicators or indexes of os investment in australia are much more volatile than xjo itself, but can lead to big swings in xjo relative to xjo (rather than relative to the os index of aussie stocks). Have a look at the msci australian eshares index. OS investor sentiment may be mostly based on their own economies, but gloabalmarkets are so intertwined now its hard to believe that slowing growth os will not also reach australia... and xjo is leveraged, not just exposed, to the os growth story directly through mining stocks, in a big way.