ASX at the close By Houses and Holes in Australian Sharesat 4:04 pm on February 21, 2013 | 8 comments Chris is away today so nothing more than the chart, which speaks a thousand words. Down 2.35% and closed on the lows. Squashed between the Fed, China and a much needed correction. More to come in my view. Share on Facebook Share on Twitter Share on Reddit + - You may also be interestedLinks January 17: Inflation nationChina trade tensions vs consumers. Wharton (h/t Cash explosionReuters reports today that:Mining giant BHP Billiton Ltd has begun Guest post: La Niña, the black swanThis week’s disastrous floods in Queensland have tragically claimed Goldman warns of an Australian recession This blog has been meaning to post on the relatively recent Comments truth seeker February 21, 2013 at 4:11 pm Long overdue. The run this market had has been oblivious of the underlying economic fundamentals. TSpencer February 21, 2013 at 7:37 pm whats the stock market got to do with economic fundamentals in an era of fiat money and unlimited CB intervention willynilly February 21, 2013 at 4:20 pm Yes, the ‘glass is half full’ can only last so long until you realise that the liquid is pee and no one wants it anyway. Thing is, the longer you hold the half full glass of pee, the heavier it gets. Bubbley February 21, 2013 at 4:25 pm Lemmings. Janet February 21, 2013 at 5:03 pm ?? “The myth of lemming mass suicide is long-standing inspired by the 1958 Disney film White Wilderness in which footage was shown that seems to show the mass suicide of lemmings. The film won an Academy Award for Documentary Feature” Ah! So the markets run up, inspired by another fantasy from the USA, was all a performance worthy of an Academy Award…Now I get it…. Bubbley February 21, 2013 at 5:24 pm Actually Lemmings aren’t suicidal, they have an incredibly strong migration drive. When the population mass gets high they have the urge spread out and migrate and will take unacceptable risks, often resulting in death. Right now that’s what I’m seeing in the stock market. The mass urge of people to leap into the market, taking unacceptable risks which may prove harmful to their financial health. But I like your version too. 8mill February 21, 2013 at 6:58 pm I loved Charlie atkin last week getting on the buy yield story etc etc. his comment stating tls was going to $5.12 or something based on it appreciating to a 7% gross yield, Yet went on to say they didn’t have a telco analyst? His logic did seem to make some sense, but he seemed a tad bullish, even for his standards. Mining Bogan February 21, 2013 at 7:46 pm Oops, sorry. On tuesday I told my fellow bogans that it was time to sell. My bad.