I noticed PGH behaving badly but nothing was said in the news or that I heard on TV. Perhaps it has been playing with SPT and getting some bad habits. It’s not a big position though is it?
What I did watch yesterday afternoon which did give me pause to look at the entire market. In the last 20 minutes of trade the entire market regained all of its losses. Every sector. The kind of manipulation reminded me of what can be done at any given time by someone to a market as small as ours. Watching the business channel yesterday afternoon they were scratching their heads. One commentator made the offhand comment that someone put some must have decided to put some money into the market. If thats true that just one person/fund etc can rally our entire market 20 points buying into all sectors is a scary thought when the same person could potentially pull the rug out from the entire market. The alternative that it was a collusion of people is even worse.
What little faith I had was clipped to just above zero yesterday.
Big green futures. Considering the weight of the banks in our market and lack of big tech, and the big tech driving the US overnight while the banks were all selling off again, I’ll look at a rally in our banking sector today as nothing more than manipulation needed in order to drive the index and draw in the punters.
I’m currently considering property as a much safer long term investment financially and emotionally. I’m also considering what will happen to property if Labor win the federal election as studies have shown a significant downturn in value if that should occur. So I will wait
Lets see which one of yr kids is a star performer today. Maybe we can give them a badge
