Did not know this was happening here. Guess it was only a matter of time, coupled with ScoMo's hand outs. We are definitely at or above 2008 levels here. There is no market panic, only sensible response to current events.
https://www.afr.com/politics/federal/telstra-sends-20-000-staff-home-to-work-20200313-p549yi https://www.afr.com/politics/federal/peter-dutton-diagnosed-with-coronavirus-20200313-p549yb Anything they do at this point is too little too late.
https://www.smh.com.au/business/markets/asx-rips-higher-staging-largest-market-turnaround-on-record-20200313-p549od.html 10% turnaround in last 90 minutes of trading? Keep drinking the kool-aid fellas.
Very pertinent comment off the youtube video: drew sale49 minutes ago It's strange how the government put $18 bil into the real economy a few days ago and the market dropped like a rock. Then the RBA put $8 bil into the repo market and the ASX jumped 5% in half a day. Anyone would think the banks run the show lol.
Yesterday I saw the chorus of doom and gloom and wondered whether the markets might punk the short sellers and go through the roof. Still a lot to play out here, but I wonder if there's a scenario in which we see the Dow go to all time highs this year. We're living in Backwardsland.
