My intention when I am starting this late on Saturday night is to do something a bit different with the ‘Stocks & Markets’ Blog this weekend and if I can get cracking on this it should contain plenty of blurb about the Markets and what has happened and is likely to happen, and also more on my Strategy. If this plays out as I would like then you could be reading this on Sunday and I will issue a separate Charts Blog late on Sunday night and that one will obviously look at both long-term and short-term Technical factors and I won’t be including any other stuff in these Blogs.
Last week was obviously highly dramatic and more than a little scary and the speed of the drop was utterly bonkers and I understand it was one of the quickest falls from a Peak ever. This in itself is a technically worrying development and hardly hints at strength but I won’t talk too much about the Charting stuff in this Blog. I will try and break what I see as the key factors down into several headings.
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I am pretty sure many of us are feeling a bit cautious about the Markets at the moment after such a strong run up, particularly in the US and now on the German DAX as well. With all the news about the Virus it seems rather surreal that the Indexes can keep on pushing to ever new All Time Highs when there is such a backdrop of concern. Of course, however, we do know the famous saying that “Markets climb a wall of worry” and this seems especially apt at the moment.
What has me most alert to the Virus situation is the likely impact on Global GDP and it seems almost impossible that the Global Economy can keep on steadily growing like it has been when we have huge chunks of China in effect shut-down and more and more Countries reporting cases of infection. The latest one is Italy where they have closed a couple of Towns and the fact it has got into Europe does give the impression the efforts by various Authorities to contain the spread of the Virus are not really working. I heard one ‘expert’ on a TV News Channel saying that the spread of the Virus was inevitable and that all the Authorities are really doing at the moment is slowing up the march of the contagion and in effect buying themselves more time to organise Health Systems and for getting to an effective vaccination.
The title this weekend could easily refer to myself for being such a complete twit and after many weeks of trying to repair a cut on the knuckle on my middle finger on my right hand, only to go and cut the second finger on my left hand when shaving this morning. It’s nuts – after weeks of irritation with the damage on my right hand continually popping open, I go and mess up my other hand as well. Certainly makes typing rather sluggish.
Of course, I would have a predominantly white bathroom and it really was like a scene from ‘Psycho’; it’s remarkable how much WheelieBlood can pump out of a tiny nick on my finger.
I’m feeling quite frazzled tonight after seemingly battling against tech issues and minor admin crud all weekend. It started when my paper copy of ‘Investors Chronicle’ failed to show up (typical as it is the Simon Thompson ‘Bargain Shares’ issue – but it is extremely unusual for it to no show on me), and I had to resort to using my 10” Tablet to read the online version which to be honest I am really impressed by. I like having the paper version as I get so fed up with looking at screens all day long and it is a pleasant change. And of course it works well in direct sunlight !!
If you try the Online IC yourself, you can get a PDF copy but you are probably wiser to use the App thing which presents it really well and you can make the Text size much bigger; which at my elevated age is extremely handy !!
I couldn’t resist using the homage to ‘Con Air’ again and with such awful and sad events we could probably all do with a bit of a chuckle. What a shocking film though – so bad it’s actually genius !!
As seems to be the ‘new normal’, I am starting this Blog much later than I ideally would like to be but as always I am easily distracted and sometimes I need gluing to my Computer and Keyboard. I will try to get through the ‘blurb’ bit on this fairly swiftly as I am eager to get onto the Charts to see just how much damage was inflicted last week and what the falls on Friday in particular are signalling. I have a small Long Position on the S&P500 which I placed a few days ago and it has been wiggling around but I suspect my Stoploss level has now been triggered – I will see what the Chart is saying and most likely I will not take any action until Monday Night as the Sunday Markets are very false and not all that reliable. |
Stocks & Markets WheelieBlogsThese tend to be more Markets and Stocks related and timely - the Blog Page on the Main WheelieDealer Website has the 'Educational' stuff (well that's the theory anyway !!). Archives
October 2021
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