Australia’s main stock index closed today below 5400 for the first time since Nov 2016 (dividend adjusted). @911CORLEBRA777 @chrizap
This article was published yesterday:
How low can we go? S&P/ASX 200 could hit 5500 before carnage ends smh.com.au/money/investin… via @smh
This article was published yesterday:
How low can we go? S&P/ASX 200 could hit 5500 before carnage ends smh.com.au/money/investin… via @smh
Since this is a 5-year chart on free Bloomberg site (ya girl can’t justify paying for full data access anymore), it doesn’t show daily close prices, which is why today’s close isn’t on the chart. So I drew it in. Take that in, okay peeps? 
Today’s intraday low was 5,290. The intraday high in the last 52 weeks = 7,197.20, which was on Feb 19, 2020. That’s a swing of over 26% in index valuation in exactly 3 weeks.
#volatility
#volatility
As you can see from the fearmongery headline of the article at top of thread, 5500 is a key psychological level for the ASX 200. Guess what? Psychological levels matter. A lot. Why? This is why:
“What’s the market going to do tomorrow, Lou?” I don’t know.
But we’re in a bear market now, basically globally, and there’s an economic jihad on US oil production by the Saudis and the Russians, and we have an uncontained global pandemic, so I’d say: put on your big girl
But we’re in a bear market now, basically globally, and there’s an economic jihad on US oil production by the Saudis and the Russians, and we have an uncontained global pandemic, so I’d say: put on your big girl
panties, and remember that if you have a long investment time horizon don’t be day trading your 401k, and try to keep socking money away, because *ultimately,* compounding over time will do more for you than trying to time the market.
