I recently read a blog (I can't remember what it was) that more or less said, no matter how bad things get, the economy doesn't collapse, not completely. Somehow, the baker continues to bake bread. And people find the wherewithal to exchange "something" for the bread. And then the baker can exchange "something" with the butcher and ... you get the drift.
And so long as horses run around in the Melbourne Cup, things ain't calamitous. "So You Think"? Well - you would think that!
And so - to that other great betting ring - the stock market.
Not a bad day today, although wet weather did seem to put a little bit of a brake on some of the outstanding prospects.
The market was up 0.8%. The only horse pulling up lame was Consumer Staples (-0.2%). Obviously the punters weren't interesting in a boring old one-pace horse like Consumer Staples.
No - they want the flashy ones like Small Ordinaries (+1.1%) and that darling of the East Sydney Mob, Gold (1.1%), and the Financials, which has grown an extra leg in the last few days, +1.1%
Anyways, I reckon MALUCKYDAY will come up tomorrow.
What will the bookies (and the markets) do tomorrow? It might just depend on the international connections - DOW, SPX, GOLD, ELECTIONS, QE2.
Best of luck tomorrow,
On the track or on the bourse
Red
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