Risk off Australia


Don’t scoff at the Pascometer! With its recent warnings of dollar strength, bank strength and stock market strength it signaled the demise of all three. Today the ASX200 is selling off ahead of regional bourses:


Led by banks:


And a dollar that can’t find traction:

Houses and Holes
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  1. General Disarray

    I’m going to have to apologize for my recent criticism of the Pascometer, it does seem to be a fairly good indicator.

  2. Comedy gold 🙂

    As I said yesterday on twitter after reading Pascoemeter’s lemmings article – Watch out, Felix Baumgartner. Pascoemeter setting ASX up 2 beat ur record

    Dunno about you folks, I am eagerly awaiting his next article.

  3. reusachtigeMEMBER

    Googling “pascometer” is good stuff. Waiting for the term to go mainstream.

      • General Disarray

        It’s more like a thermometer in function so let’s go with the first option.

      • rob barrattMEMBER

        I believe the Pascoemeter is a variant of the Antimeter (pronounced antimit-er).
        Attach an antimeter to a falling piano and it will register an upswing.

    • There is obviously a fine tuned mechanism between Pascoe and the markets.

      In the same way that strapping a buttered slice of toast to the back of a cat can defy gravity, surely pascoe can be paired with something to permanently ensure Australian financial stability.

  4. outsidetrader

    If commentators reported on the ASX the same way they do the property market, the falls over the last couple of days would be reported as a strong outcome.

    Increasing volumes coupled with falling prices are currently being cheered on by the good Dr Wilson as demonstrating that “Sydney’s housing market continues to strengthen…”

  5. I reckon he’d get a fair take up if his views were available by subscription only.

    Worth reflecting on why he is so effective as a contrarian indicator. It’s because he is actually very good at his job. He sells papers and clicks by telling the punters what they want to hear. What they want to hear is validation of their beliefs. He reflects the punter’s views back at them. The punters are always most wrong on markets at the worst possible times. Pascoe gives us insight in to their thinking, hence the power of the Pascometer.

  6. Is anything up today? Seems like every sector is down: Banks, miners, industrials everything.

    • Small Ords is now at a 3 year low….

      Capital Goods (i.e mining services/construction) almost at its GFC low…

      Thank Pascoe, err Dog for banks hey?

    • Up 3%…

      Although no reason to get excited….

      btw I might do an “Australian stocks” special tomorrow for Trading Week…lots of opportunities at the moment…LOTS

      • of course – and prob some other crosses too (EUR, GBP)

        btw, all 3 of these have ETFs you can buy like a share, to “short” the AUD, just saying…

      • thomickersMEMBER

        already been doing it (USD etf)

        one of my siblings is preparing an overseas study in britain and we’ve put in some GBPs just to lock in the education budget. a fall in AUD would not make the trip viable.

  7. I can’t understand why coh is taking such a beating last 2 days with the aud falling… Surely this is good for profits!!

  8. Ugh, wish I had read the Pascoe article when it was published yesterday, could’ve saved myself a 5% loss.

  9. I have to stop reading MB on the bus after friday night drinks. Grinning like an idiot now.. 😛

  10. Ah, shucks. The first time I came across the ‘pascometer’ term thrown around at MB was not too long ago. I thought then you guys were just being facetious, even though I recognised just how wrong the bloke usually is.

    I’m mortified to realise the it’s all true. The Pascometer is real and it really works!

  11. You guys are turning into a bunch of smug wankers. Are you calling this the market top beyond anything other than a short term top?