ASX
Being a contrarian, it would be nicer if there is an explanation. There isn't one today on ASX.
All my bank shares and SYD went up today. And most blue chips did too. However, why ASX went down, I have no idea. Most of my mining stocks either did nothing or went 'up' minimally or went down. So I took the opportunity to get rid of small resource stocks and accumulated a few more ASX shares.
ASX has been giving good dividend; far better than banks giving interest on deposits, and with dividend imputation. While it is not a monopoly, it functions like one.
posted by Club Mulgoa @ 9:26 PM
2 Comments:
Today, the banks went down and ASX itself went up!
I bought at just under $48 in early December when financial stocks went up but ASX continued to tumble for no obvious reason. Just before Xmas and NY, it would be madness to raise money for any float so December was a quieter period for the ASX.
Yesterday, it closed at $50.01 so that is an over 4% profit for me over a month. This is far better than putting the money into banks as deposit. As usual, retrospectology says that I should have put more in. I am glad that being a logical contrarian does work... At least for ASX.
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