Hello everyone,
I hope life is treating you well wherever you are in the world.
The market is still in a slugfest. Rallies are punctured by the bears now. It’s a waiting game until we find a market bottom. The market will see it before you do.
Have you thrown your hands in the air and gone to cash? This is what many people have done, according to a UBS strategist. Some $89 billion has poured into money market funds in the past week. People are trying to time the markets. Most can’t do it. Most people don’t get back into the market until the train has well and truly left the station. Will your cash work for you sitting in the bank? Long-term opportunities can be found in the environment, technology, and food. Always monitor and record John’s suggestions.
Janet Yellen says the U.S. economy is doing well. It has slowed down, but jobs reports still indicate a quite sturdy labour market.
On Thursday, the inflation report is released. Let’s wait and see what it says. Volatility will probably surround this report.
It’s the 20th anniversary of the Bali bombings on October 12. A very sad day for so many. All I know is that violence begets more violence, so let’s all do our bit to keep peace in the world.
The forecast for Australia from the weather bureau is bleak. Rain, cyclones, and extreme weather events are expected between October 2022 and April 2023. I guess that means no BBQs on the beach this Christmas Day???
The IMF is also forecasting a bleak outlook for economic growth for Australia. Cost of living, mortgage rates, job cuts in companies will all put pressure on economic activity. Many people are now looking at alternative ways to build a home – tires, bales of hay, and shipping containers all now feature as cheaper options for a home.
That’s your lot for today.
Do take care.
Happy trading.
Cheers,
Jacque
The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.
-- William Arthur Ward
