Monday, June 4, 2012

Global fears wipe another $24b off the Aussie market


Original source

Australian shares slumped to a six-month low today as investors joined a global flight out of risky assets, triggered by fresh concerns over a global economic slowdown after anemic US jobs figures and soft Chinese factory data.

The benchmark S&P/ASX200 index plunged 78.9 points, or 1.9 per cent, to 3985, losing grip on the psychological 4000 level and hitting its lowest mark since November 25. The broader All Ordinaries index lost 83.5 points, or 2 per cent, to 4033.4.

Among the sectors, energy stocks fell 3.3 per cent, materials dropped 2.8 per cent and financials lost 1.7 per cent. Gold miners and telcos were the only two sectors to post gains, adding 2.7 and 0.5 per cent respectively.

The day's losses wiped another $24 billion off the market's value and took the slump since May 1 to 10.4 per cent, meeting the usual definition of a market correction. For the year, the benchmark index is down 1.75 per cent.

Read more:

Of course you could have just bought gold and not worried about all this white noise.

Henry Kissinger caught leaving Bilderberg 2012

Image from

Silver Manipulation- This Too Shall Pass

Jun 1, 2012 by

For fans of Max and Stacy

Buy Bullion Bounce?

Ha ha the world is coming apart at the seams and a very small percentage of the world thinks that a little bit of gold might be wise as insurance and yet the boofheads on CNBC see it as the best shorting and put option play on the table. Very sad, some people just can't be saved. If you are going to play the long and short games, I think you would be better to go short JPM and go long Gold and Silver, just don't do it in the nude.


Worst Day of Year for Stocks

Classic MSM comment. Couldn't bring themselves to mention that Gold was up 4%, the best one day move in 3 years.