Monday, 24 August 2015

Samurai Summary: Top Tweets 24/08/2015

Oh boy what a day to be blogging about financial markets. Markets in the East opened up under pressure and continued the plunge that started 2 weeks prior. These are the days we mentally prepare ourselves for, buckle up and hold on tight.

Not surprising that Chinese stocks lead the way as global financial markets went into meltdown with some indices recording the worst day in a few years. A rumour on Friday speculating that the Chinese government was going to intervene did not come to light and as a result traders and investors alike read this as a sign as the government reaching a dead end in terms of measures implemented to save Chinese stocks from bailing.

While the rest of the world goes crazy, some make a valid point that although stocks are pulling back significantly this is not cause for concern but rather a chance to climb in at better valuations. Given the upward vertical nature and lack of any decent pullbacks of most markets in recent years this could prove to be a great opportunity once the dust settles.



Being on the backfoot lately the Rand was slapped about in early trade as it hit new lows against the Dollar. It is not alone as most emerging market currencies are taking a beating. Will SARB intervene? It highly unlikely but then again only time can tell...


The dreaded Head & Shoulders technical pattern on the JSE Top 40 index which has been lying around the market for the last 2 months finally broke down. The time period used is on a 3 day basis taking only 2 candles to reach it's target, it does give you some indication on how badly markets have sold off so quickly.


@TradersCorner The dreaded H&S everyone's been waiting for to break has finished the move in 2 candles. #JSE #ALSI pic.twitter.com/vfTFbw9JiE
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