Ian Woodward's Investing Blog

Have a Happy Thanksgiving Everyone!

Thanksgiving

 The Market Correction underway is Global by the looks of things.  As David Schoon reminds me “with China down >1%, Tokyo down >2%, Taiwan down >2%, Korea down >3% and India down >4%, we’ll find out today how much pep the bulls Stateside have before eating their turkeys!”  Here’s a snapshot just before I go out to do a “honey do” to get the Turkey!  We can see that the Indexes are all blood red as I write this at 10.00 am PCT:  

Indexes

There is little more for me to say but to wish you all a Very Happy Thanksgiving and I thank you for all your support, encouragement, feedback and friendship.  Best Regards, Ian.

3 Responses to “Have a Happy Thanksgiving Everyone!”

  1. Paul R Says:

    Ian,

    Thanks for all of your help, a few winkys, and a whack in the head on occasion!

    Have a grand day with your family and enjoy!

    Paul R

  2. David B Schoon Says:

    Ian,

    Beginning to sound like a broken record here it is almost getting monotonous
    except I caught that winky winky of yours before the big sell-off in China
    started in full force; and in my qualified plan at that; the ETFs are great.

    Well, we’re 1/2 hour from the close over here in Asia, Japan flat, Hong Kong

  3. David B Schoon Says:

    Ian,

    It’s 1830 hours here in Beijing, China and the Asian markets have closed
    for the weekend; perhaps a reflex bounce but nonetheless encouraging for
    the bulls out there with China, Hong Kong & India all up >1% and Japan flat
    instead of down after that nasty negative reversal on Wednesday.

    I scrolled thru some different charts today and found a few interesting things
    I thought I’d share; just the facts, you can draw your own conclusions:

    1. Light sweet crude is still in a solid uptrend price channel, and while much
    is pontificated on the relationship between oil & gold prices, the World Gold
    Index shed 37 points on 11/12 which was one of it’s largest % drops in several
    years, only to be followed by a near repeat on 11/15 which decisively broke the
    uptrend line from early August. Similar price patterns are noted in IAU & GLD
    (which I understand buys bullion instead of the mining stocks).

    2. The CBOE 30 Year Treasury Yield Index is approaching the 41-42 area last seen
    as support in 2003 & 2005; a similar pattern can be seen in the 5 Year except it
    lacked the pullback in 2005 to the level it reached in 2003. Meanwhile the interest
    sensitive DJ-15 Utility Averages has been holding relatively steady the past week
    just above the 515 support level.

    3. Malaysia and Brazil have been to market leaders this year; however, Malaysia finally
    cracked last week, and Brazil is on the cusp at critical support.

    4. The S&P 500 is now within 10 points of the 08/15 low at 1406 so we are basically
    “there now”.

    5. The Barra Largecap Growth Index has shown less relative downward price movement as
    compared to the Midcap & Smallcap which may suggest Largecap Growth could be the first group
    to pop in the strongest groups for the Jacks-in-the-Box. I would be interested in your
    commentary on this.

    6. The Nikki has lost 2100 points since 11/01! That was rather shocking to me. Then on
    11/20 it popped +168 only to be slammed the very next day -373; two of the largest % price
    moves for that index in some time. Volatility has been the name of the game.

    It would be great if more of your readers could contribute their observations both regarding
    your blog content as well as related items; we can all learn from each other.

    It’s weird to be in Beijing at nearly 1900 hours on Friday night and tell you that “I’m going
    long China ‘this morning’ meaning after the U.S. markets open. I’m hearing more of my Chinese
    colleagues talking about investing in mutual funds (limited availability here still) instead of
    individual stocks to reduce the volatility in their portfolios. ETFs are unheard of here; we
    have it so good in the US of A. What a blast!

    David from Beijing

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Disclaimer: Commentaries on this Blog are not to be construed as recommendations to buy or sell the market and/or specific securites. The consumer of the information is responsible for their own investment decisions.