I actually made the call already that the weakness was an opportunity to get long and it will trade back to the top of the range. So I have already been in & out! ;-)
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Are you saying you are back out or just recently back in? You are either on the same page as hoop or on an opposite course.---just curious.
I traded the range, so I saw the break out as a false break, loaded up & then sold back out for some very nice gains particularly on the DOW, but also the ASX.
I'm still long some individual stocks.
Looking at the NZX50 ... we seem to have now higher lows (though somewhat marginal) as well as higher highs. Interesting question is whether this is a very complicated dead cat bounce, just noise, or the start of a recovery ...
I think the biggest difference between now & 2008 is there is so much cash on the sidelines & the market is a lot more wary than they were prior to the GFC & government's have shown they will act. Glencore wont be a Lehman even if did collapse which I doubt anyway. Commodities will rebound at some point & some are already showing signs of bottoming. I think the bigger risk than Glencore is the debt associated with the US & Canadian energy sector, but that has proven reasonably resilient so far with hedging allowing many to delay the price pain, however a debt implosion can not be ruled out from that sector which would make Glencore look like a pimple on the side of a volcano. Gold surged as did silver which was great as got long both only yesterday. ;-)
Thats getting very close to this
https://vimeo.com/groups/96331/videos/80799353
[QUOTE=KW;593007]It appears that is exactly what is happening. We are living in strange
Not really. Whatever Governments try to fix the opposite always happens.
DJI heading back to 200 MA?? NZX bands tightening? Black Monday over …… ?