That's right Mr.B, you can find lots of news to blame it on...that's what the journo's are good at...never mind that people just want to take profits/no one wants to buy anymore, we needed a technical correction. Its too hard to explain and doesn't sell adverts...
FWIW, i don't think this is the big one yet, maybe just a correction. Seems too easy for the big one...
CanOz
Hardly surprising the market continues to fall -
Treasury secretary Martin Parkinson calls for calm over WA recession fears = panic
Asbestos TLS - no big deal maybe..........= mild panic
Union raises fears that Telstra communication pits contain deadly banned pesticide dieldrin - starting to look iffy there
Money pouring out of Australia -
and to top it off -
ABC refutes claims of axe for Bananas In Pyjamas
It will turn when all this subsides.
MrBurns,
It will help your investing immensely if you pay scant attention to the mainstream media here in Aus (or most countries for that matter). Their job is to create headlines people read, not financially accurate, fact based articles unfortunately
So you don't think the current downturn has anything to do with what happening in the world ?
I know the media , don't worry about that but true or not they effect the market.
Not the domestic media. they haven't a friggin clue.
So you don't think the current downturn has anything to do with what happening in the world ?
I think it has nothing to do with what the mainstream media reports. Do you honestly think big hedge fund traders etc get their news from The Age,
Unless the news is two planes flying into the WTC. Would have liked the days before newspaper for that one.If you want to see how the sentiment is then watch what the market does on big news days and the day after. In a bull market nothing can stop that train...even bad news gets run over. Then all of the sudden, like you said, things change and even the relatively good economic numbers are taken totally differently. Then that catches the media off guard and they start wrapping stories around it so they can explain it...they don't understand the market structure so they need to use something that they do understand, and the moms and pops understand. Then all of the sudden, the big move in the market was because of blah blah....
Its amazing to see, once you are able to see it. You see when you are looking at the market through the structure of the market, you are able to tell when a move is likely....and that's usually the result of news a while back already or news that not even released yet, in some cases.
Interesting subject though. Can't help but laugh the way the Muppets wrap the stores around the price actions.
If you want to see news affect prices then you need to watch intra-day prices, the US esp.
CanOz
Federal Reserve Chairman Ben Bernanke’s testimony to US Congress tonight has the clear potential to be a market moving event for the simple reason very people believe he will say anything different.
That in itself is potentially a bit of a problem because any confirmation of “no new stimulus” is going to help the US Dollar and hinder those denominated in USD.
However, unlike previously benign, market friendly Bernanke testimony, I get the feeling tonight’s testimony could actually mention the words “tapering” or “exit plan”.
Those two words have been consistently used in recent weeks in the well-connected (to the Fed) Wall St Journal (WSJ) and I can’t help but think that was the Fed selectively leaking those words to soften markets up for their delivery by Chairman Bernanke tonight.
Don’t get me wrong, I could be completely incorrect in my view, but the WSJ was weeks ahead on QE2/QE3 and I just can’t help but wonder whether they have the same early directed mail on “tapering” or “exit plan”.
What I do know is if Bernanke does mention the words “tapering” or “exit plan” it will have a major effect on the US Dollar. Quite simply, even if Bernanke doesn’t give a firm date for that QE wind-down process to start, the investment markets across all asset classes will start their own “exit plan”, with the US Dollar being the major beneficiary of short USD carry trade unwinds.
MrBurns,
It will help your investing immensely if you pay scant attention to the mainstream media here in Aus (or most countries for that matter). Their job is to create headlines people read, not financially accurate, fact based articles unfortunately
Unless the news is two planes flying into the WTC. Would have liked the days before newspaper for that one.
RE: Media and Markets
I got this in a newsletter just before the recent movements:
Thought it was interesting to see someone commenting on something so inane, and yet called the outcome perfectly. Also interesting to see the media seemingly ahead of the money for once.
Still declining, I'll let you know what's happening after it's over.............like most "experts"
Nah will get a run up from 2 pm today into the close. That will keep the up trend in stocks like TLS, CBA etc for next week to push higher.....
huh?
MrBurns,
It will help your investing immensely if you pay scant attention to the mainstream media here in Aus (or most countries for that matter). Their job is to create headlines people read, not financially accurate, fact based articles unfortunately
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