XAO 0.33% 6,813.5 all ordinaries

Chart says LONG ...

  1. 5,816 Posts.
    Hmmm... seems the US has finally puked over corporate governance issues as stockholders flee the markets ... many for good ...

    Not because, the US economy is a 'house of cards' ... they can live with that ... they are simply fed up with the criminals who fudge everything that is bent anyway ...

    Bush has sworn to hunt down those responsible and bring them to justice ... (sic)

    US Business Report interview with Chairman of US SEC Harvey Pitt has publicly said Scott Sullivan (WorldCom CFO) is headed for the can ...

    Sullivan and his cronies have been subpoened to appear before Congress on July 8th ...

    " I didn't know" or any to that effect won't do ... says Harvey ... Go Harvey Go ...

    This and further good news of US economy said to be the reason for overnight DOW strong 149 point rally ...

    Harvey has vowed (after the event of course) to make the US Stockmarket trustworthy for investors in a bid to ease the stampede ...

    Peter Costello announced new measure in Parliament yesterday designed to increase truth in reporting along with harsher penalties ...

    With year end tax selling clearing the decks ... might be time to consider some LONGS ... cautiously ...

    Given the challenging previous couple of months ... could this be the bottom we have all been looking for ...??

    Chart looks like this ...



    This is only my view ... read the red stuff.
 
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