RSS FeedIts All Red
Posted by Senan
The ISEQ is down today in a big way. As is the FTSE 100, the Dow Jones, the S&P 500, the CAC, the DAX, ...
So, although at the time of writing the U.S. indices have not closed yet (and so may rebound); it's safe to say we're experiencing some anxiousness globally as to the 'toppy' nature of the current market valuations. I follow some 30 stocks continuously and it is rare that I see so much red. I would say about 80% are down. These include large caps such as Johnson & Johnson, Vodafone, Otter Tail, and MasterCard. Some of my smaller cap watches are faring a little better. Companies such as GigaMedia, Finsbury Food, and Inland.
2 weeks ago I bought Exelon. I'm not an active trader, so I think it would be wise to allow several weeks to pass between transactions. For now I'm sitting on the sidelines. I think a market correction is on the way (maybe it began today?), so if I'm lucky my next purchase will occur at a time when the market is a little cheaper than it is today,
This type of market must be very interesting for technical analysts and trend spotters. This article on morningstar.com by a guy far more knowledgable and verbose than me lends weight to the notion that the markets are now well 'overbought'. It draws parallels between what we are seeing now and what was seen during the period of the great depression...not a comforting thought!
By the way, if you're in front of the TV at the moment, close the laptop, switch on RTE1. Pat Kenny is back and he's taking on the banks and property developers tonight.
Above all else, I hope you get some element satisfaction from this website. Be it on an educational level, or for entertainment, or
mental stimulation, ...or just somewhere to pass 5 minutes! This spot is an informal look at the world of money, finance,
investing, busines, politics, etc. etc.
