Monday, May 18, 2009
Where do we go from here?
After a 20% run in month, where can the stockmarket possible go but down? The smart money must be getting short. Unemployment, despite recent figures is rising, business investment is down. The aussie taxpayers have been lumped with about $3000 each of Rudd government debt. I'd have thought it was a fairly simple trade to get set short and wait for at least a 10% retracement. Shorting of financials should end on the 30th of May and once that happens it seems likely that financials doing massive capital raisings (Macquarie Bank) will come under significant pressure. If it's trading anywhere north of $30, then sell sell sell.