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1ronnie

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04/12/18

16:14

Post #: 36746867
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Originally posted by 1ronnie ↑

The 287pt Dow gained overnight didn't translate into a positive day for the ASX because the ASX has the luxury to look ahead. So yesterday's large ASX gain was on the back of a very strong futures pointing to a 400+ pt gain. Now Dow futures is back -140 in the red.

In fact the ASX at the close is almost back to where it began yesterday, albeit a little higher and at the moment struggling to break the ASX200 200 day MA.

And as I mentioned early this morning, some stocks may not perform despite the relief rally. Examples include LVT which is in a downward trajectory and FYI, a covered stock previously that is down almost 13%.

It is certainly great if you finish in the black on the day the indices are in the red, and conversely you wont be a happy camper if you're in the red when the indices are strongly up. The market may recover but the market is also discerning (on which stocks go up) as its still risk off , despite prospect of a possible Xmas rally ahead. And for that reason, IMO it is not as bad an idea to stay sideline if it is going to end up as a zero sum game (e.g if you buy 5 stocks, win on 2 but lose on 3 with losers outweighing winners).

Speculators will never learn, always chasing up stocks on an announcement they have not had enough time to analyse. An announcement even as good as NUH initially greeted with overwhelming response finally succumbed to incredible scepticism. But it is back up today. Sentiment remains fragile to say the least. Same thing happened to BIT but at 14.5c now, no one seems to be chasing as much. The announcements both companies made remain as-is , question is how much of the upside will materialise - you got chosen into 'Who wants to be a millionaire'- can you now win and win big? But its a good place to be at. Many other wannabes are still struggling to get a foot in, and in the process ever "buying time" with their holders to be patient with them and dishing out Powerpoints to give restless holders some excitement over possibly nothing.

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correction- RISK ON
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Its Over, page-486

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Its Over, page-486

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