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Black Aussie Monday

by Gav Leave a Comment

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.

Filed Under: Trading Journal Tagged With: AUDUSD, Trading Journal

Reader Interactions

Comments

  1. Simit Patel says

    at 9:46 pm

    Fundamentally I think AUDUSD will go higher over the next few years, and I tend to think of this as short-term bear trend within a longer AUDUSD bull trend. The drop today was vicious but the USD from a fundamental standpoint the USD is weak and getting weaker, and will decline against commodities over the next few years. So don’t worry, you won’t have it as bad as we have it in the States. 🙂

    Reply
  2. Simit Patel says

    at 8:46 am

    Fundamentally I think AUDUSD will go higher over the next few years, and I tend to think of this as short-term bear trend within a longer AUDUSD bull trend. The drop today was vicious but the USD from a fundamental standpoint the USD is weak and getting weaker, and will decline against commodities over the next few years. So don’t worry, you won’t have it as bad as we have it in the States. 🙂

    Reply

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My Name is Gav.
I am a Father, Husband, Trader, And Blogger. A serious coffee addict. I started training since 2005, mainly on FX and Futures.

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