Macro Afternoon

By in Australian Dollar, Australian Shares

| 127 comments

See the latest Australian dollar analysis here:

MB Radio: Irresponsibility becomes the new black

The pandemic crisis is over:buy stocks! That’s the message from risk markets across the world at the moment, as stocks breakout of their holding patterns and all the short positions are wound back, while rational investors remain on the sidelines.

In mainland China, the Shanghai Composite is up nearly 1% to be one or two points shy of 2900, while the Hang Seng Index is the best in the region, surging over 2.2% to 24464 points, but not yet blasting off into a full blown breakout:

Japanese share markets however have broken free with the Nikkei 225 rising 1.5% to 20433 points to a new post breakdown high, while the USDJPY pair was relatively steady, slowly melting higher to the 107.40 level, ready to tackle last weeks high closer to 108:

The ASX200 was solid and stayed higher throughout the session, finishing 1.8% higher to 5559 points, while the Aussie dollar was able to gain some traction despite the Chinese trade squabbles, almost matching the previous week;s high at the mid 65 level going into the London open:

Eurostoxx futures are reliatively steady alongside US stocks with the S&P500 poised to break above its weekly resistance level at 2960 points and then make a run for it up to 3000:

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Comments

  1. mdseeMEMBER

    It’s like the market has dropped a tab of acid and is now laughing all the way to the bank

  3. migtronixMEMBER

    These work from home traders sure are chipper. Have the brothels opened early or something?

      • China PlateMEMBER

        hey reusa the ‘cock and pullet’, from yeborsky up above, reminded me of the old cock’n’bull at bondi junction.
        come on you remember that joint down stairs saturday night. fess up now

        • TailorTrashMEMBER

          Well I do … sunk many a pint there ..and often got lucky too
          ….back when an English pub was peak vibrancy

          • China PlateMEMBER

            not you Mr Tailor, this long distance dedication goes out to reusa. He remembered the snake man down at La Perouse, so i was thinking same vintage and similar geography. Do you remember the snake man Mr Tailor – sorry can’t bring meself to call you Mr Trash

          • TailorTrashMEMBER

            Yes I remember the snake man ….back in those days La Perouse was out in the bush
            ….but then Sydney was a frangipani scented paradise of 2 million ….now it’s a great international city ….read ….sh1thole ….

    • ArthurMEMBER

      I am feeling pain. Short everything Aussie and hurting. However, I can afford to HODL, so will do it. This seems nonsensical.
      If this bull run endures then I see it as time to throw out all old ideas of how markets and money work. I think that will eventually happen anyway, but so soon?

      • DominicMEMBER

        A word of warning – don’t trade markets on fundamentals. Especially now, when central banks are in full flow.

        Fundamentals will always win out — eventually — but you’ll be broke long before then.

      • GavinMEMBER

        The markets as Dom says have departed fundamentals and are completely manipulated. Whilst they are printing trillions I’d be wary. I don’t trust central banks.

  5. Fascist China

    I was just reading that Sweden had their HIGHEST death rate last month since 1993.

    Yep highest in 27 years!

    Some pandemic eh?

    People are going back to work. They’re going to take their chances.

    Reality is everything will go back to normal.

    • reusachtigeMEMBER

      I admire the Swedes, mainly for being so hot! I’d even accidentally indulge in some of their pretty boys, maybe, if in that crazy moment of doing whatever way nearby.

    • bda2206

      What? DrX said Sweden would be all sorted a month ago.
      At least Chy-na is pretty much sorted. only 6 cases yesterday.

      • The Traveling Wilbur

        I believe there may be a Masters paper in this: Heuristic estimation of the value of a boomer/retiree through time according to demand response of accepted and unquestioned societal responses to infectious disease outbreaks; or similar.

        There’s also a Masters paper in: The value of housing and increases over time. AND Do rich old people call the shots?

  7. Jim's Central Banking

    I feel coerced into having to invest in these central bank manipulated markets. Not only that, the returns on offer look like smoking garbage because every single muppet is buying these [email protected] multiples because TINA.

    Lucky I don’t have a gun.

  8. NikoMEMBER

    anyway, sold NCM (again) and reduced my stake in ALK. Made few dollars but could have made more yesterday. Lot more. Now we can watch both go through the roof tomorrow.
    But happy with the profit overall.

    • The BurbWatcherMEMBER

      I sold some gold and gold shares today, as well.

      Risk complex seems ON today, and for the short-term…I think…

      Yes, means gold will spike and stocks will sell now 😉

        • ComingMEMBER

          Lol you guys are weak hands!
          Holding until I hit my purchase price , don’t want to give any capital gains to the government without a discount

          Even my TRY stake is way up , and that stock is a dog

          But I agree with your caution: the rug pull is probably coming at some point

    • DominicMEMBER

      No one ever went bankrupt taking a profit — besides, you’ll have CGT to worry about soon enough. Hopefully you have some losses to declare before then 😉

    • Frostilicus

      Oh, I do hope they get the claps they so thoroughly deserve it… the antibiotic resistant strain!

  13. NikoMEMBER

    just got back from my walk and here is an update..
    The house next to high voltage power lines sold earlier and then sale fell off is sold again.. after two more weeks on the market.
    New For Lease sign so rental stocks are slowly building.
    A House that has Sold sticker on since end of Feb still empty.. I think this one will be For Sale again.

  14. TailorTrashMEMBER

    “Several importers based in Hong Kong, the town of Humen in Dongguan province and Shanghai said the bans were not surprising as the four factories were known for their “sloppiness” even though they supplied some of the “best beef” in China.

    Sloppiness .??? WTF …don’t they fcuking realise that straya employs the best , the sharpest and …..the cheapest employees they can find in their meat works ….this is a prized export industry that we value highly and so we put our best ( imported cheap labour) foot forward to protect it

    Getitintya straya ……!!!

    https://sg.news.yahoo.com/amphtml/australian-beef-exporters-banned-china-105447593.html

    • triageMEMBER

      Talk about sloppy. Dongguan is a local area between HK and Guangzhou, not a province. A while back it was where a huge percentage of the world’s trainers / shoes were made. Can’t believe a South China Morning Post writer would get that wrong.

    • Woof Warrior

      Sloppiness is chopping up exotic wildlife in wet markets all over China and selling it for human consumption, leading to a global pandemic.

  15. SwampyMEMBER

    2014
    Bunnamagoo Cab Sav thanks for the tip whomever it was

    @bolsty $17.99 at Gbah IGA!

      • 8millMEMBER

        Extra sh t in my book.
        Reminds me of a guy who somehow stumbled into a high paying job and just wants to stay there.

      • TailorTrashMEMBER

        All organisations throw them up ….never take a risk
        …never speak out ….manage your career ….not your business ….get to the top …and arrive with no fcuking idea…..I’ll be surprised if he lasts another 12 months

        • The Traveling Wilbur

          All that guy has to do is wait for HR to tell hom to call a meeting once a year where all the staff write their ideas for the business on a post it note. Two years later anything remotely usable is in the strategic plan. Do it near Christmas and not be only does no one even notice, but HR are recommending it as a ‘staff consultation’ exercise mitigating some of the staff survey feedback about how ‘managment never listen’.

          • DominicMEMBER

            All valid points – but only works in large, bureaucratic organisations. In fact, is de rigeur in said organisations.

  17. ErmingtonPlumbingMEMBER

    Alright I’ve just brought a new Laptop and am using it as my main computer/desktop replacement. (its got an 8 core Ryzen 7-4800H processor)
    I’ve decided to NOT go with the former Anti Virus programs I’ve used in the past (Norton, McAfee, Trend) and so started researching different alternative and Reading and watching a lot of different reviews.
    A lot of the tech reviewers on YouTube reckon that Windows Defender that comes with Win 10 is now a completely satisfactory Anti Virus.
    Is this true?
    I would be interested in the opinions of those more informed than Me.
    If I did just go with Defender is the upgrade from Home to Pro worth it for its file encryption? Does/Would that function prevent ransomware attacks?
    Ive been kinda keen on Kaspersky and Bitdefender but would I be handing all my info over to the Russian mafia or the Romanian Mob? (are they the same thing?)
    Are they any worse than the Private equity sharks and CIA/FBI collaborators that own and control all the main Western AV offerings?
    Please help a dumb Plumber make up his mind.

    • China PlateMEMBER

      i don’t understand any of what you just wrote but for what’s it worth “avast” is free
      and oh yeah full disclosure time me neighbors friend’s fifth cousin ninth removed has some sort of stake in the operation – i think

    • bda2206

      >A lot of tech reviewers on YouTube reckon that Windows Defender that comes with Win 10 is now a completely satisfactory Anti Virus.
      >Is this true?

      Hard to say really. do you have kids getting on the machine? They will fckn you up.

      >I would be interested in the opinions of those more informed than Me.
      >If I did just go with Defender is the upgrade from Home to Pro worth it for its file encryption? Does/Would that function prevent >ransomware attacks?

      Nope. that function stops people booting your pc or pulling the hdd out and taking your files because you know the password to that encryption and they don’t.

      If you got ransomed your files would be encrypted on your disk with another password you don’t know. another layer of encryption on top of the good one.

      Some AV has detection for encryption attack and stops it.
      Sophos comes to mind. not a recommendation, just an example.

      https://www.sophos.com/en-us/content/offers/endpoint-antivirus.aspx

      the best protection for your files is a secured backup the ransomware cannot get to. eg shadowprotect backing up to nas with password on the filesystem, so you can’t browse the backups. Or something cloudish AWS S3 / cloudberry.

    • pajjer457

      Stick with defender. A lot of the vectors for attack an antivirus won’t stop. Buy an external hard drive and do regular full backups, imho best way to mitigate ramsomware with former. Don’t do silly things online and you’ll be fine, downloads from p0rn sites, click on every link in your spam folder, etc.

      • SwampyMEMBER

        This

        Backblaze, etc

        I back up to NAS using Chronosync for Mac, run Cleanmymac for malware protection but am on OSX too which helps

        At work (major health setting ) endpoint protection Windows Defender which seems to do a good job but we obviously have some serious enterprise grade protection at network boundary

    • haroldusMEMBER

      Arnie was asked to upgrade to Windows 10. He refused.

      “Ah still love Vista, baby!”

    • NikoMEMBER

      I use paid version of AVAST on 3 laptops and no issues.
      The only thing I don’t like about AVAST is I get popups trying to sell me extra features like VPN/Encryption, registry cleaner.. But it works fine.

    • Mega65MEMBER

      Haha yeah, come on here to post the same thing. ABC really wants us in tears for these useless parasites, but doesn’t realise that reading about these useless sods will get anyone with half a brain asking the question “why the hell are these people even here?”.

    • The FNG.MEMBER

      I cant believe how much Im liking Sky all of a sudden.
      ABC can just get f….d.

  21. Mining BoganMEMBER

    Lol, the Bali refugees who are desperate for a flight somewhere…anywhere…are going to be dirty on this. Even today they said they’re going to head to Qld in June even if it’s just for a weekend.

    “But on Monday the Queensland premier, Annastacia Palaszczuk, suggested its borders were unlikely to open before September, and other states have shown no urgency to open up.”

    https://www.theguardian.com/australia-news/2020/may/19/state-leaders-resist-morrison-government-push-to-reopen-borders-closed-by-coronavirus

    Geez, how can they show people on Facebook how fabulous their lives are if they have to stay in Melbourne? It’s a restriction of trade!

    • SwampyMEMBER

      I’d like to take my kids up from NNSW to Hervey Bay to see their grandfather including one he hasn’t met so it’s not all a lark and replacing Bali

      • Mining BoganMEMBER

        I’d like to myself because I haven’t been able to get back to see mum since my father’s funeral.

        The ones I see and hear worrying about it though seem more worried about just being somewhere instead of having an actual purpose.

  22. haroldusMEMBER

    Anyone see the skywriting over the inner west today?

    It said and this is not a word of a lie……

    “TAIWAN CAN HELP”

    Poppy has seen pictures so you know I am not lying.

    What could it mean? Who are they talking to? Are they just trying to rile mainlanders?