ASX down again!

Discussion in 'Sharemarket News & Market Analysis' started by coopranos, 5th Nov, 2007.

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  1. coopranos

    coopranos Well-Known Member

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    ASX opens down again.
    A saying that seems quite popular among the gurus is that when the market has reason to react a certain way and doesnt, it could be trouble ahead.
    Wall St jumped up on friday, which would normally indicate an increase in our markets today, but it has instead taken another decent hit. Could the rate rise tomorrow be the straw that breaks the camels back?
     
    coopranos, 5th Nov, 2007
    #1
  2. Simon Hampel

    Simon Hampel Founder Staff Member

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    First, Friday's increase of 0.2% on the DJIA is hardly what I would call a "jump" ... more like a "stand up slowly" :p

    Second, even though we may still take our cues from the US, I'd say we're much more close aligned to Asia these days than the US. So when the US sneezes, we cover our mouths and get cautious, although we seem to be largely immune to catching cold these days (that's not to say our own inebriated state being drunk on our own success won't cause us to develop other, more serious problems :eek: )

    A rate rise is usually greeted negatively, although given that everyone has been predicting one for weeks, I'd suggest that the markets have already largely priced that in (not saying we don't see further gloom this week though).

    Recent volatility has been lead by more takeover speculation, which is often deflated when the truth becomes apparent ... just means more ups and downs I'd suggest.
     
    Simon Hampel, 5th Nov, 2007
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  3. Mark Laszczuk

    Mark Laszczuk Well-Known Member

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    Yes, absolutely. A recurring theme that has been popping up in the adviser briefings I've been attending over the last six months has been a shift from alignment with the U.S. to Asia. It's pretty much a worldwide phenomenon.

    I remember one presentation in particular which showed that 50% of exports from China X years ago were going to the U.S. and 20% going to most of the rest of the world. Those figures have now reversed.

    I was actually going to start a thread about it, but seems like this is as good a place as any to discuss.

    Mark
     
    Mark Laszczuk, 5th Nov, 2007
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  4. coopranos

    coopranos Well-Known Member

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    I know a lot of people are saying that our market is less dependant on the US market, but I would still think that more often than not, our market moves in the direction they did the night before.
     
    coopranos, 5th Nov, 2007
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  5. Tropo

    Tropo Well-Known Member

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    Tropo, 5th Nov, 2007
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  6. coopranos

    coopranos Well-Known Member

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    I guess the beauty of being a doomsayer is that eventually you will be right!
     
    coopranos, 5th Nov, 2007
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  7. Tropo

    Tropo Well-Known Member

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    Hahahaaa.....yep....one day....:p
    I would not panic yet...No reason for that.;)
     
    Tropo, 5th Nov, 2007
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  8. tropic

    tropic Well-Known Member

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    Let's hope he is not going to take out 41 billions from the market. That will impact the market. Only portion of it is invested in ASX anyway.
     
    tropic, 5th Nov, 2007
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