Thanks. Certainly got lost in the chop early on today. I actually had a quite decent long entry just when we started ripping, but trailed myself out too soon as I usually do.
Closing a short term swing on Fri is not a bad thing. I can get long again. This is the difference between trading an investing, With investing a hold is cool.
Just read this replying on another thread. Icahn's short is specific to credit default swaps, or "CDS," which are assets that back mortgages of corporate offices and shopping malls. Icahn said the housing market bubble of 2008 has "happened all over again" due to loans made in 2012 to shopping malls and more. "You have a bunch of mortgages ... so the banks went out and loaned money against a lot of shopping malls, office buildings, hotels and retail," Icahn said. "It's all credible, institutions doing it again." The banks sold mortgages on commercial real estate "and then, when they did those mortgages, [the banks] sliced and diced them and put them in something called a 'CMBX,' an index," Icahn said. The banks then sold bonds against these mortgages to clients. Icahn expects shopping malls and others in commercial real estate will default on these loans.
Oil was for the most part a snooze today except for a sharp rally in the afternoon that put the shorts on notice. CL closed above 17.00. The market will be closely watching the EIA inventory report that is released every Wednesday at 10:30 am. Everything is going to be about inventory levels from now till the June contract settlement on May 19th. What could spike the price of CL ? 1) Tweets by Trump....indicating either tariffs or an embargo on OPEC oil imports after OPEC renegs on it's promised production cut-backs 2) Tweets by Trump....indicating expansion of the SPR - Strategic Petroleum Reserve which is now about 80-90% full 3) a good report indicating crude inventory levels are not increasing 4) reports of increased oil demand I believe cautious optimism is warranted here.
Vanz, the majority crowd is usually wrong when it comes to making money on the markets. Yes the media news is hugely negative. The markets took a plunge and wiped out many who sold too late. Markets atm are displaying cautious optimism, it must be, mkts are rising through this doom story. Volumes are low, maybe due to fear and to the jobless who have no trading money, lack of Funds Money inflow. But in the meantime, if one sits in cash they are missing an opportunity. Saying that, this is not advice as many cannot make rhyme nor reason from the waves which either carry or drown participants.
Yes and the four largest banks in Australia operate the four largest brokerage operations in Australia. Why would all four banks be so keen to own brokerages. Gummint here is complicit in allowing banks to have a conflict of interest. And the ASX here is listed on the ASX.