Looks like my expectation of 3000 on the Ords was too pessimistic. Those who predicted 100 pt drop were way off the mark.
We need to remember that we are 2/3 of the way to what happened in Sept already.
US futures: NAQ down 2 pts
Sp down 5
May get worse than that but a lot has already been priced in short term. I have taken a hit today as the blue chips I held puts on have dropped 1-2% whereas the second tier stocks I hold have dropped 5%....so as I've said before I was underweight the shorts.
Having said that the second tier stocks will rebound harder as earnings come out and I have used the opportunity to add small positions in stocks like BTG,HWI and FUN.
What's everyone else doing??
Ed.
Whats the odds of our market rising on Monday?, page-30
-
- There are more pages in this discussion • 2 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)