ASX sags

Dalian is soft during the day:

Big Iron is copping it:

Big Gas does not look well:

Those descending triangles on the majors might break. Oil has rebounded but they haven’t…

Big Gold still looks weak too:

Big Bubble has lost it’s froth:

And Big Liar is whatever:


Houses and Holes
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  1. Shiny bootstrap sovereigns also in the lead by 5 margins over big stud.

    Please stop using your internal nicknames for this stuff. I’m not an economist: I’m a paying subscriber.

    • DingwallMEMBER

      Pete it’s easy mate. The definition is indicated by the companies shown on the chart and these well-deserved titles have been in use for this particular daily update for a long while. Big banks and our listed real estate spruikers are the Bubbles and Liars.

  2. RBA board man comes out today and says 3.5% rate was a joke. dollar drops 1c.
    The guy who wrote that speach should lose his jobe.

    • DingwallMEMBER

      I suggested the other day that the down right embarrassing part is that if the RBA intended for the markets to interpret their minutes in the way they did then the RBA are idiots. And if they didn’t, they are ……… idiots.

    • I agree. Waiting days to say anything is even more ridiculous. Even with the 1c drop its still another 0.8c above where it was when the minutes were released. Sheesh.

  3. DingwallMEMBER

    Meanwhile in Indonesia they announced their rates at midnight. “Indonesia’s central bank left its benchmark interest rate unchanged, as expected, on Thursday, but left analysts puzzled by delaying the announcement until close to midnight”

  4. ASX sags…… yes….. but, behaving like a bull market ( as has been since Jan 2016 , and is going to continue to be ):

    1. Does at the lower turning regions; that is, it always just wants to go higher ( even today = opens sharply lower then claws back almost all of the initial sagging ; and

    2. In terms of medium – term considerations, always moving gradually higher as it’s been doing since the beginning of the year 2016. [ Actual fact, it’s been in a broad bull market since 2009, save for the 20% pull-back in 2015]

    This is a bull market in the ASX 200, from Jan 2016 – and it’s going to eventually take out the previous 6700 high in the next 2 years … betta believe it. Why be bearish ?? … see the graph. [ Click on MAX tab in graph ]

    • Yep. Pattern of past performance definitely the only factor determining future performance.

      /sarc off

      • No Arrow2 – Unfortunately, you not right there, mate … who learnt you that the “Pattern of past performance definitely the only factor determining future perforance” ?

        It’s to do with absolute and relative value, given the outlook for the corporate, financial and economic environment in competing markets. On the basis of the latter proper considerations, our ASX is cheap in an absolute and relative context ; the ASX going up is showing you that … or should be …. you understanding all of this ?

        It appears I need to extend my hand of assistance in relation to any other investment matters you may be struggling with … give to the needy, I say.

    • JspitzerMEMBER

      Guess it depends on your investing bias. Looks to me like a pennant that will end soon, and if it breaks south it will complete an awesome head and shoulders, and also lock in an amazing multi year double top! Same time copper and iron ore could form amazing head and shoulders if go south from here which I think they will with USD set to rally hard, DAX to confirm a false break under 12,350, and it’s game on! Suggest debt ceiling is the trigger.

      • The Traveling Wilbur

        Hear f’in hear. It looked really good for a massive bull run when Trump was going to inflate the world a couple of months ago. Since then… though corporate earnings in the US have been good recently. Still no inflation though.

        And it’s good to know I’m not the only lunatic in the asylum watching the DAX. That bourse is one sneaky, but useful, little bugger. And recently it tells me don’t by banks now.

    • The Traveling Wilbur

      Can we please have the first user of this handle back please? The current one (who we’ve seen already last year) isn’t interesting at all.
      Waste of electrons.