Rate rise but Wall Street also up!
The world of logic does not hold sway especially in the short term... but perhaps, the rise had already been factored in by smarter logical people. And because the rise is not over the top and the benign (or rather 'encouraging') employment and inflation rates were also factored in, Wall Street climbed.
But strangely price of gold also climbed overnight!
Perhaps, I should retire my simple 'logic' strategy as I am behind.
My portfolios had been greatly influenced by two related stocks so I don't think a rise in SPI and price of oil and gold this AM is going to give me any alpha. Logic is only good for the longer term.
posted by Club Mulgoa @ 1:48 PM
1 Comments:
Nice surprise... Most of the big rises in my portfolios are from mining stock. SYD also had a big jump today. Kingsford-Smith Airport is still making money for SYD so why not buy it?
I haven't bought it for a few months and last few were all over the place. However, it gives better dividend than interest from bank deposits.
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