Stock chart downtrends

[rustyheela]

I understand the high dollar & volatile base metal prices are impacting on OZ miners, but the majority of stocks are in major downtrends. If we are exporting record amounts, and the Government is banging on about " 2 speed economy" and the sector is so "hot" why the divergence? Can anyone offer an opinion or explain this?

 

[So_Cynical]

The market is experiencing general negative sentiment, falling SP's have much to do with fear and profit taking and little to do with the potential upside....the stock market is generally a contest between fear and optimism, at the moment fear is winning while the big spending on projects and developments in the mining and energy sectors continues.

 

[joea]

I understand the high dollar & volatile base metal prices are impacting on OZ miners, but the majority of stocks are in major downtrends. If we are exporting record amounts, and the Government is banging on about " 2 speed economy" and the sector is so "hot" why the divergence? Can anyone offer an opinion or explain this?

We also have a two speed labor market.
One market is filled with hard working in demand employees(mining)
The other one the people may not be working as much as they like. However they are concerned if they leave that job, there maybe limits to what they can get.(Government propaganda on 4.9% unemployment). May have to relocate.

There are 2.7 million out there, who would actually like to find employment or work longer hours.

In mining, potential projects worth just under $50 bullion have blown out by $23 buillion.
So basically we have the country in a bit of turmoil.
Now add an incompetent Government and you would have to agree the light at the end of the tunnel is but a glimmer and maybe extinguished in the very near future.

Not Good, but in a week or two the direction will be clear on the XJO.
cheers

 

[Tyler Durden]

The market is experiencing general negative sentiment, falling SP's have much to do with fear and profit taking and little to do with the potential upside....the stock market is generally a contest between fear and optimism, at the moment fear is winning while the big spending on projects and developments in the mining and energy sectors continues.

I agree. It seems that when it comes to SP, nothing else matters other than sentiment.