Pete Wargent blogspot

Co-founder & CEO of AllenWargent property buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place), and CEO of WargentAdvisory (providing subscription analysis, reports & services to institutional clients).

4 x finance/investment author - 'Get a Financial Grip: a simple plan for financial freedom’ (2012) rated Top 10 finance books by Money Magazine & Dymocks.

"Unfortunately so much commentary is self-serving or sensationalist. Pete Wargent shines through with his clear, sober & dispassionate analysis of the housing market, which is so valuable. Pete drills into the facts & unlocks the details that others gloss over in their rush to get a headline. On housing Pete is a must read, must follow - he is one of the better property analysts in Australia" - Stephen Koukoulas, MD of Market Economics, former Senior Economics Adviser to Prime Minister Gillard.

"Pete Wargent is one of Australia's brightest financial minds - a must-follow for articulate, accurate & in-depth analysis." - David Scutt, Business Insider, leading Australian market analyst.

"I've been investing for over 40 years & read nearly every investment book ever written yet I still learned new concepts in his books. Pete Wargent is one of Australia's finest young financial commentators." - Michael Yardney, Australia's leading property expert, Amazon #1 best-selling author.

"The most knowledgeable person on Aussie real estate markets - Pete's work is great, loads of good data and charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, and author of the New York Times bestsellers 'End Game' and 'Code Red'.

"Pete's daily analysis is unputdownable" - Dr. Chris Caton, Chief Economist, BT Financial.

Friday, 10 October 2014

Wild ride ahead for stocks as US jobless claims hit 8 year low

Quite a week for the share markets in the US.

After whipsawing quite violently for the two preceding trades we saw another sharp sell-off today despite US jobless claims falling to an 8 year low. 

This is the paradox of today's markets which are influenced by abnormal conditions of rock bottom interest rates and stimulus.

Even when there is good economic news share markets can remain fearful of the withdrawal of stimulus, while today's sell-off was in part triggered by concerns over global growth.

Reports Bloomie:

"A healthier job market helped spark the biggest gain in Americans’ confidence in almost a year, raising prospects for the economy at the start of fourth quarter. The number of people seeking jobless benefits at state employment agencies averaged 287,750 in the four weeks ended Oct. 4, an eight-year low, according to figures today from the Labor Department in Washington. The Bloomberg gauge of consumer sentiment climbed last week by the most since mid-November."

The Dow shed a punishing 338 points in the trade despite the 4 week jobless claims index result hitting its lowest reading since February 2006, while the NASDAQ also shed 2 percent.


The Aussie share markets recently touched upon a 9 month low.

The XJO (ASX 200) index began 2014 at 5352 and after today's sell-off in the US if future markets are right we are heading down towards 5230 with short shrift.


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For this week's cheap movie I really wanted to watch Gone Girl, but was out-voted and ended up watching the Billy Connolly comedy movie instead (I think it's called What we Did on our Holiday, or something like that). It was alright. Would still rather have watched Gone Girl, but hey, next time...

6/10.