Tuesday, 10 June 2008

Bloody Markets

While the outlook appeared good at the end of the last week, all hopes were crushed on Friday afternoon. And, over the weekend (and yesterday, Monday, was a public holiday in Australia) there was no good news so the market opened much lower, with financials taking a hit. Well, it appears that the answers always come when you need them, not when you want them. Had I read more and experimented less maybe I'd not have decided to expect a financial institution doing good, no matter what its chart looked like. The whole sector is in phase 1 and oscilating up and down, with the consequences of the credit crunch reappearing every now and then.
Anyway, another lesson learned.
Its funny to read the forecasts at the same time as watching the market. People usually predict the doom and gloom while it's happening. And, when the market is going up they are all predicting a good growth for the rest of the year. I wonder where the *(&)(&^*&%$$% does the prediction part fit in there. Prediction is something that is supposed to happen in the future, not what's happening right now.
Still, it's a good and educational experience. And, something to occupy myself with while waiting for the recruiter call.

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