All-time Highs in Major Stock Markets Supporting Global Expansion
Sydney, Oct 30, 2013 AEST (ABN Newswire) - New highs in so many markets are not the stuff of economic collapses but rather these are indicators that are confirming the continuing current global expansion that I consider will develop into a major long term economic boom. The past couple of months are bringing daylight into this very sunny outlook.
Thanks first of all to the many readers who have generously offered favourable comments on what Dawes Points has tried to achieve. Your words are greatly appreciated.
Through many years watching markets the observation that turning points almost always occur at extremes of sentiment, whether bullish or bearish, still holds very true.
What has been different this time is that the violence in the market, since the last highs in April 2011, has been accompanied by such vehemence in negative sentiment that a new terminology in bearish views is probably required - hyperbearic? Blanket bearishness over China, Europe and the US here and in North America as well has even brought a new local pessimism over the Australian economy into 2014. Hence, the extreme pessimism results in a build up of cash and then when the change in perception occurs the market trend responses can be surprising. Let's hope so and let's hope it is up.
Nevertheless, keep in mind that it is the performances of the markets that matter not what some economist, former bureaucrat or failed politician thinks he would like to see.
So far many market indices around the world are giving new alltime highs or at least post-GFC highs and rather than looking over-extended are only now breaking out from very long term bases that technically suggest very much higher prices over the next SEVERAL years.
Let's look at results to date in the major indices and also note the changes since the June 20013 lows and the gentle pullbacks into mid October. The gains since Dec 2011 are also included.
To view tables and qualifying data, please visit:
http://www.abnnewswire.net/lnk/WI7K9A1N
Barry Dawes' expertise in the Australian resources sector is based on his knowledge as a geologist combined with over 30 years' experience in the resources investment sector. Prior to founding Boutique Investment Firm "Martin Place Securities" in 2000, Barry had worked in senior executive roles of investment management with BT Australia, equities research for Bain Deutsche Bank and equities research and corporate finance for Macquarie Bank. He is currently a Director of a number of unlisted public operating companies. Barry has a substantial depth of knowledge and experience in the international resources industry and is well known for his views on the sector.
Contact
Paradigm Securities Pty Ltd
Level 1, Goldfields House
1 Alfred Street
Sydney, NSW 2000
Australia
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