OH Crap. AUDUSD falls below 0.75 for the first time in 2 years. Stock market took a tumble. All ordinaries lost around -3.3% today. What’s going on? On the paper, the reason, as expected, “people are expecting a 50bp rate cut tomorrow”. Well, probably. Anyway, it is indeed a bad day.
Here are some random thoughts..
It is a mess in the Aussie markets. Well, at least , in my point of view. People are panic, they are guessing, or even expecting Australia to be hit by the same shitty condition like America. Government is putting a rescue package in front. The past glorious years have made a lot of Aussie allocating a big portion of their wealth heavily in stocks market. Not to mentioned the crappy Superannuation. Experts on the TV are still advising the dads & mums investor to hold on their positions.
Anyway, I can’t see it clearly now. I don’t have a clear plan to work in this market condition. Uhm..so I guess, I will be better off staying aside. Am I too slow or not ‘intelligent’ enough to profit from this market condition? uhm…probably.
But, it is good to be safe, and holding cash at the moment…I guess.