I hate to say it XJO'ers but I think our market may be cooked for the rest of the year, as it was in November and December last year
The Japanese are exporting deflation on a grand scale by devaluing the JPY so aggressively and that puts immense pressure on China and by way of association, Australia. I know the market is not the economy (as I have to remind myself constantly) however, our resources sector and maybe soon to be our energy sector also is flashing a large red warning light.
Under these conditions, with the "rest" of our equities looking relatively expensive I can't see any money flow into the asset class for a while yet but could understand why people take money out by way of dividends or sales.
The only hope here for materials, IMO, is if the USD were to weaken materially....but that is far from happening. We seem to be in the midst of a late 1990's style commodity unwind. How that doesn't flow through to the rest of the economy is beyond me.
In saying all that though, when I feel this way it is normally the bottom !
- Forums
- ASX - By Stock
- XJO and World Markets - Discussion and Charts
I hate to say it XJO'ers but I think our market may be cooked...
-
-
- There are more pages in this discussion • 107 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add XJO (ASX) to my watchlist
|
|||||
Last
7,988.1 |
Change
-25.300(0.32%) |
Mkt cap ! n/a |
Open | High | Low |
8,013.4 | 8,013.4 | 7,918.9 |
Featured News
XJO (ASX) Chart |