Not much of a rebalance if all they were doing was selling. Lets see if the trend is reversed on Monday.
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We are being bombarded by many on ST that some of us are unnecessarily negative as we are being told that our economy is still good and the future looks bright....
Think rockstar..spread the good word and bugger the world..
OK.. the good word is this NZX50 chart is one of the better index charts in the world at the moment.....is spreading this good word working...warm fuzzies from everyone...eh?
Same goes for the Nikkei and Sensex...The logic must be they're spreading the good word too...Hallelujah
The Aussis the Americans the British the Europeans the Singaporeans the Chinese don't know how so they maybe started that travel to hell in a handcart..
....and tonight in Europe that trip to hell is continuing to look likely..
The NZX50 chart below is simple, although we just had a record high if the NZX50 index breaks that 5695 bull/bear support we could be going to hell with them
http://i458.photobucket.com/albums/q...2020082015.png
I think solid reporting season keeping the NZX afloat at the moment or else could've been watershed...look at other markets, bit scary really.
http://news.yahoo.com/us-stocks-lowe...155312751.html
Could be one of 'those' Fridays - looks like at least 1+ % dip is likely today.
I think what is happening in overseas markets has more to do with falling oil and commodities causing people to sell those sectors and a bit of fear in regards to china - in nz we don't have any representation of those commodity sectors.
In fact in the us the utilities and treasuries have performed really well so saying the markets as a whole are crashing is really not correct. in nz we have good representation in those sectors
so explains why nz is holding up. doesn't mean some people wont naturally panic lol
I would love a nice big stock market crash (as long as I keep my job). Who doesn't like buying things when they are cheap?