Registered: Sep 2010
10-10-11 06:46 PM
now longterm system in green and high for the year and close to all time high - time for review.
Expected that markets will be in downtrend in symphaty with after '87 scenario at least till new year. So far, massive job losses have not eventuated in Melbourne & Sydney which are recepients of government subsidies paid by mining. However, there are job losses, just done in more quiet way. Estimate we are in recession, but numbers massaged. Hot suburbs sale activity dropped off sharply and unemploymnet in pricier suburbs creeping up.
QLD and WA were allowed to delverage, probably as they are economically strongest states. NSW and VIC still not. Also minimizes the shock for the country.
However, this is not important on global scale. Most of the world is doing well.
For now, I remain long.