Fear and Greed of markets

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Derek  30 Aug 2017

Morning,

I mentioned it before that markets are driven by fear and greed. The missile of North Korea over Japan drove markets down due to fear.

Not influenced by fear, Warren Buffett's Berkshire Hathaway Inc (BRKa.N) has become Bank of America Corp's (BAC.N) largest shareholder by exercising its right to acquire 700 million shares at a steep discount, more than tripling an investment it made six years ago. This is one of my favourites in the US. Its daily turnover is tripple the JSE's turnover in Rand value!

International:
At the initial opening of the US the fear was still present in the market and when all those that sold were out of the market, it climbed to close positively. The East is also all positive this morning. I show the S&P500 that closed above the EMA8 line, but still below the negative trend line.



JSE Technical:
One share that was not influenced by the fear at all was Blue Label Telecoms. It is still completing the J-cure that I showed a few days ago.



Since FirstRand broke top resistance, divergence started showing in FrontRunner. It still closed above the trend line. RMB Holding's graph looks exactly the same, with a diffirence that it is against resistance.



Enjoy your day.
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