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Ouch ! Has anyone worked out what the All Ords would be if Newscorp had stayed at $15.00 ?
While the All Ords hit 3173 (record) yesterday it masked what is a real slump in a number of blue chip stocks - LLC,NAB,WOW,WSF,CML,AGL,BIL - they're all up to 50% of their highs and still pointing south...
I know many commentators keep referring to an impending sharemarket slump e.g. Max Walsh in last week's Bulletin. Maybe outside of Media and IT we've already had a correction of bear market proportions. Maybe the next move for the Aust. blue chips is up ?!
This dichotomy seems to mirror the US market last year except that here it is the big cap stocks theat seem to have been hammered
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