SXY (ASX) Signs of Bullish behaviour

Originally posted by CEOChair ↑

Zeeshan, looking at positive Eu markets and DOW futures tonight, I think the ASX has a lot of catching up to do tomorrow having gone down today in the face of yesterday's positive o/s leads... All of which means I think today's 13.5c close becomes new support and it ain't never going to 12c again now. I don't imagine it will go nuts tomorrow though, guessing it will open at 14c and flirt with 15c but it won't get through 15.5c yet.... Then I'm thinking the Chinese get back to panic stations next week when they've stopped congratulating themselves on winning WW2 against the Japs, even though the Communist Party came to power 3 years after their Nationalist compatriots actually held back the Japs, but that's all by the by, I digress... and market turbulence grips the early part of the week again and back SXY goes to 13.5c, rinse, repeat, lah di dah... Then whoever controls the bots that placed cross trades at 0.1375c every few minutes all day today and most of yesterday tells their client they've done their work and they can go ahead and make an offer for the company now already.

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Don't be so short sighted, look at where the chart has come from. 5cent, 10cents, 15cents is all the same. The gyrations in Shanghai are just that. That Shanghai market is still up over 40% over the year. Better than the US/Europe and Australian markets so don't cry for me Argentina. In a few weeks Chinese markets will be in the rear view mirror and in a month or two we will stop looking at them completely. As for the economic data out of China we have known forever that they make it up or at least are able to engineer their economy to meet targets no matter what. All of a sudden what we've know for years about China has spooked us. Hard or soft landing who cares they will do what they have done before and firewall their bad debts into a few holding banks and then Goldman Sacs will come along later and repackage the garbage banks for resale to the market in another ten years time as they did only a few short years ago.

This current mad sell off of the ASX energy sector by big funds will be the easiest money that I'll make in the next few years. Can't understand how they can get this so wrong.

Wouldn't hold any sector that relies on discretionary consumer spending in Australia. Wouldn't touch iron ore, wouldn't touch banks, would hold high grade base metals for the long term, would hold high margin Australian gold producers with no debt. Would hold pharmaceutical/biotech, medical technologies and aged care.

Eshmun
DYOR IMHO