Market Wrap 2008

Posted on 21. Dec, 2008 by in Stock Broker Reports

All of us from Global Trading Edge would like to wish you a Merry Christmas and prosperous 2009 We are eagerly looking forward to launching our courses, seminars, DVDs and support services. *Market Wrap 2008*

The year 2008 has been anything but clear sailing. In fact, 2008 looks set to become the worst year ever for Australian equities, including the 1930 wipe out. Volatility has been the dominant factor and by all accounts, looks like being the major market influence in the next quarter.

There are market experts suggesting that we are close to the bottom while others are saying we have further to fall. As our market is highly influenced by the financials sector and the mining sector, the answer to what lies ahead will come down to commodity prices and the freeing up of the still-tight credit markets. As lenders are still playing shy and commodity prices continue to fall, there is no real clear road sign saying the worst for our market is over. The rate of decent has slowed and we are seeing financial authorities around the globe reduce interest rates in a bid to look as though they are doing something, plus we have governments pump priming with massive stimulus packages.

Until the commodity prices bottom and we start seeing the big global banks start to lend freely and as importantly, market confidence is not nipped in the bud by yet another scandal, it is a brave market participant to call the bottom – just yet. Who knows if there is another Lehman Brothers, ABC Learning Centre, OzMinerals, or even Storm Financial lurking around the corner. Out of the US late last week there was the Bernard Madoff fraud. It seems he has been running a subtle pyramid-style scheme for decades, hoodwinking rich private and institutional investors alike to the tune of a cool $US50 billion.

Thanks Anthony

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8 Responses to “Market Wrap 2008”

  1. George Peters

    22. Dec, 2008

    Hi Anthony,

    Thanks for putting me on to this site. Really looking forward to when you launch your education and support services

    Regards

    George

  2. Anthony Manly

    22. Dec, 2008

    Thanks for your comments George. The team here are looking forward to Global Trading Edge evolving.

    A BIG thankyou to Lorraine for moving the site across to something more professional.

    Also be sure to read the disclaimer located at the bottom of this page.

    Thanks again TEAM massive effort plenty more to come

    Thanks

    Anthony

  3. Glenn Reece

    22. Dec, 2008

    Hi All,

    I am new to the forum hwoever here to learn.

    Thanks

    Glenn

  4. Anthony Manly

    22. Dec, 2008

    Hi Glenn,

    Welcome to the blog feel free to post any questions you may have. I know you are keen to learn more about options so drop in from time to time and ask questions.

    Thanks

    Anthony

  5. John Brierley

    22. Dec, 2008

    Hi Anthony, i have been told before that it is best not to trade during the xmas new year break as the proffessionals go on holiday.
    Would you agree to this or do you still trade through this period.

  6. Anthony Manly

    22. Dec, 2008

    Hi John,

    With Christmas fast approaching and trading volumes obviously extremely low my opinion is that it depends on what you want to achieve. I personally won't be trading over the coming weeks but will be keeping a close eye on the market when it re-opens after Chrissie.

    Many of my friends and colleagues say forget trading until late January early Februaury.

    Have you read Stan Weinsteins book – Secrets for profiting in bull and bear markets ? In one of the early chapters it shows a chart which displays the Dow Jones behaviour month by month through a typical year. Over the past 80 years (mind you this book was published in the mid 80s), December was the best performing month. The results were based on whether or not the DJ Industrial average posted a gain for each given month. Decemebr was a winner 68% of the time.

    So what have we seen?

    Thanks

    Anthony

  7. John Brierley

    23. Dec, 2008

    Hi Anthony, thanks for the reply.

    I have read the book, but in the early days when shares and options was like talking Japanese, so i think i need to read it again.

    The question about traidng now is that previuosly i have seen some dramatic movements in some stocks on very low volume through this period. Somebody obviously knows what is about to happen eh!!

    Have a great christmas and we will chat in the new year.

    Cheers

    John Brierley

  8. Anthony Manly

    23. Dec, 2008

    Hi John,

    Look forward to speaing with you have a MErry Christmas and excellent NEw Year

    Cheers

    Anthony

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