Friday, November 2, 2007
Opportunity Abounds Giralia and the AUD
With the market having a panic all because Citi bank had a bad day, it's a good opportunity to add to positions. People forget just how poor a measure of economic health the Dow Jones industrial average is. You have to remember this only has 30 stocks in it. When one of them (Citi) drops 7%, the Dow will tumble. Fundamentals remain unchanged and I for one am trying to pick up a few more GIR, although in the last 30 minutes they've really got a run on. On another note, the AUD got a fair hammering against the USD and I'm starting to think about getting long again. I'll let you know when I decide to pull the trigger.