My decision to sell and hold some more cash was due mainly to the fact that in the crashes of 2001 and 2008 there was a bull rally that lasted on both occassions 47 trading days before a second crash occurred. We passed the 47th day of this bull rally a couple of days ago, but I thought the rally would last longer this time due the truckload of printed money that the fed threw at US markets and seems that market is showing signs of denial in relation to the true economic conditions and the continued affect of the covid virus on the US and many other countries is only going to make things worse.
So expecting a second leg down .May retest previous lows but I expect US markets to fall much more than the Aussie market. I am pretty sure that it will happen, its just timing that I may have slightly out.
Christopher
p.s I was heavily in cash when first drop happened and this is why my portfolio is up 10% YTD as I missed the worst of it.
PLS - 2020 chart thread !, page-475
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Last
$3.16 |
Change
-0.030(0.94%) |
Mkt cap ! $9.516B | |||
| Open | High | Low | Value | Volume |
| $3.17 | $3.19 | $3.06 | $50.14M | 15.97M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 49357 | $3.10 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.17 | 74794 | 5 |
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| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| PLS (ASX) Chart |