Australia Sad Period Begins
The slow down in Mining is now creeping into other sectors of the Aussie economy. This site saw this coming months ago!
The AORD index has fallen down from its recent highs on good volume, there maybe a bounce, but watch out it may just be an A-B-C reaction that will eventually fail. There is a lot of hot air in the Aussie economy which can be blamed on the record low interest rates (care of US FED) into the local property market, of course 2013 as seen the rise in global 10 yr rates, and the Australian economy is likely to be hit hard by the higher rates just like all other emerging markets (India, Brazil, etc). The hot fluff in the economy is about to leave the building.
"Without specific, clear, and tested rules, speculators do not have any real chance of success" ~ Jesse Livermore
"If you have trouble imagining a 20% loss in the stock market, you shouldn't be in stocks" ~ John (Jack) Bogle