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Your editor reports in from rainy Frankston this week. While the missus is off supervising a school trip to Canberra we’re stuck at home on school pick-up and drop-off duty.
We’re not sure that being down here in Frankston will add any different perspective to when we normally write from St Kilda, but you never know.
Anyway, we were gobsmacked by this quote we read yesterday afternoon…
“Prices would only suffer a small fall, they wouldn’t crash.”
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Your editor writes from the sickbed this morning *cough*, so don’t be surprised if we cut things a little short *sniffle*.
Looking at the Aussie market we’re wondering, will it break out higher this time?
If you look at the chart below you can see the market has put in another rapid gain:
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What a night on the markets. The London Stock Exchange goes “down” for three hours due to a technical glitch, and once trading resumed it finished the day “down” more than 3%.
Ouch!
On top of that Dubai kindly let everyone know that it’s in a spot of bother. You can imagine the conversation:
“Er, you know all that cash we borrowed to build those fancy pants buildings, well, there’s a glitch, ha, ha, ha. Any chance of extending the repayment deadline? We’re still good for it Guv, honest!”
And the Aussie market is taking a pasting this morning too. All I can say is I’m glad we recently recommended to Australian Small Cap Investigator and Australian Wealth Gameplan subscribers that they start using trailing stop orders.
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If the price of something has risen by 45.06% in the space of a year, does that mean it is a price bubble?
Not necessarily, but it’s a question worth asking.
Take a look at the chart for gold priced in US dollars below:
Even in the last two months the price has burst through the USD$1,000 level and is now trading comfortably at USD$1,164.
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I’ve only got a brief Money Morning for you today as I’m wrapping up the October issue of Australian Small Cap Investigator.
I’ve got two new buy tips waiting to be released to paid subscribers, so I’m just quickly running through these notes while our design team is laying the report out.
If you’re a subscriber you should look for it in your inbox later this afternoon.
So, while I’ve got a spare 15 minutes or so before I head back to finish up on Australian Small Cap Investigator, something else came back to my mind.
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