Indices: Australian ASX 200
The ASX200 fell another 1% yesterday although we finally saw some bargain hunters enter the market mid-morning after a ~$1.75bn dollar stop appeared to be triggered in the SPI Futures as we finally saw some signs of panic capitulation style selling – traders usually look for such moves before calling a market bottom. The recovery was reasonably broad-based as we went from only 2% of the ASX200 being up…
The ASX200 took another tumble on Monday taking Mays decline to well over 4% in just over a week, the selling was again broad based with well over 80% of the main board closing in the red – the “buy the dip” mantra has vanished almost as fast as investors’ appetite for bonds. We are not seeing any fresh trends emerge it’s just a simple continuation of the last 6-months with any stocks trading…
