"This is the week where Labor swept to a massive victoryin the Australian Federal Election and look set to easily govern for 6 years (2 terms), possibly 9 moreyears as the Coalition got wiped out and are now a minor party with only around 40 seats out of 150.Labor may end up with 90! This means more irresponsible fiscal spending in the years ahead, a possibleworsening in industrial relations policy (which is already strangling business and has resulted in some ofthe highest wages in the world), emboldened trade unions with embedded corruption, continuation ofthe growth in the welfare state (with wholesale abuse of major programs including the NDIS, plus abloated bureaucracy in Canberra); continuation of a failed energy policy & the higher costs associatedwith this for business and consumers; a ‘head-in-the-sand’ approach to Defense; and the list goes on. Allof this is very BEARISH for the Australian stock market. Traders and investors should take advantage ofthe current rally to sell/cash up on expensive stocks and take a cautious approach to our bourse. The next1,000 index points are likely to be down."
