Follow the leader

It seems that lately, every time Wall Street goes up 140 points, we go up 14. When Wall street falls 95, we fall 85. The uncertainty on Wall Street as to whether the Fed will put up interest rates or not, now, next month or next year, seems to be causing all these roller coaster rides.

They are going to do it, so why not do it? After the Fed’s last announcement last week, I looked up Janet Yellen on the net and a whole page of just that came up! Janet Yellen apparently doesn’t believe in a free market and doesn’t seem to have much of a clue on anything else either. I’m glad you are still buying the Aussie banks because I am down $6,000 just on ANZ alone. Our market is a disaster, and it looks like we are in for another bad day on Monday. Might it be time to sell up and put our money into cash? 3% isn’t much, but it’s a damned lot better than -10%.

A: Thanks for your comments. Another bad day (today) Monday – the BHP incident not helping – our institutions are just very bearish at the moment.


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