Posts in English (13/9/2022)
Have a good week MM friends,
Extreme changes in the investment mood from day to day, if we take into account the tone of the international stock market writing.
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Last Tuesday we were going for “new lows of the year”, on Thursday “the worst is behind us” since the planned speeches of the central banks were completed etc etc.
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In the past we used to say that the psychology of investors in the AX is extreme. Now it seems that the Mediterranean temperament has become a privilege of the “developed” Markets of the West.
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Given that the active codes on the AX are few (we exclude the “closets”), on a short-term level, the “climate”, the opening and also the closing in Athens are mainly a subject… imported.
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At the long-term level, the phase of the stock market cycle – mainly when the DG will be at its top or whether it will be bearish – we believe is also an input, but to a lesser extent than day-by-day.
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We know what the good Greek stocks are, we don’t need foreign “gurus” to dictate this to us, of course.
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As far as the bottom goes, we’ve wasted twenty years where the Aliens doubled and tripled while we… in our world.
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Caution! Not all Greek shares have the same trajectory. Banks are a typical example. Looking only at the DG… one misses the tree.
However, in the absence of the possibility of article writing for dozens of shares, we necessarily refer mainly to DG.
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The recent “long leg”, therefore, of the DG, which started at 900 units, was intercepted at 820 and now we are in a pullback, Hellenistic, correction phase against the strong trend.
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At the level of other Markets, our interest was piqued by currencies, with the classic “invisible hand” selling the Dollar at its resistances by buying the Euro, Sterling and Aussie.
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We look forward to the next week’s meetings with particular interest.
However, they should also explain to us whether the “autonomization” of the ASE will continue or whether there will again be a scenario of “whoever is in time, is in time”.
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Sincerely and disclaimer,
P. Steriotis
- The above express personal opinions, and in no way constitute a solicitation to buy, sell or hold any securities.
Πέτρος Στεριώτης (Χρηματιστής) Petros Steriotis 