Today for ASX traders, they may assume today will be another caning once the market opens. Not so, expect an up day. The morning may begin in the red, it's a buying opportunity and ASX will close green, that's my call. I'm bullish in the days ahead as well. I'm not a gold cultist, but this sector should shine up ahead as it's been beaten relentlessly for over a year now and its turn now for it to go green and gold.
MSCI Australia: 65% in high beta and cyclical stocks. Still a good place for where we are in the global business cycle.
ASX upcoming trading hours; Friday 24th, closing 2hours early. Monday 27th closed Tuesday 28th closed Friday 31st closing 2 hours early Monday 3rd January closed USA stockmarket closed Friday 24th.
Panic stations today!!! Everything I made yesterday given back today, the Lord giveth and taketh away.
Up 5.52% so far for the year but expecting another hiding today as support crashes and we follow the overseas drubbing from Friday. What I'll be looking out for today is any potential recovery toward eod. Although I expect the markets will take a hammering, I'm not bearish, I'm expecting high volatility which we'll see this week, that's all. Gold I'm expecting a slight slump, nothing major. Russia / Ukraine saga is where most fear is coming from atm plus Technology stocks just having a normal market correction effect ahead of company reporting season. There have been a number of stocks on ASX which have run hard of late, I have several buys waiting for them to fall into over the next few days or possibly longer, those which have run hardest will fall hardest, especially in the penny stock area.
Nice buying opportunities today, mostly nigh the whole market is getting slammed. "Buy when there is blood in the streets". So today I snaffled up: ADN Andromeda, Halloysite Kaolin @ 19c AGE Alligator Energy, Uranium @ $0.064 PDN Paladin, Uranium @ 74c IMU Imutech, Cancer drugs @ 0.305 ASM Australian Strategic Materials, Rare Earths @ $8.30 FZO Family Zone, Kids internet safety @ 0.475