Now, for an interesting 2018

Now, for an interesting 2018

Reflecting on the last six months, which have been mostly good, I see a pattern developing. From February 2016, we had one of the best six month periods I have ever experienced. Then followed a softening market as profits were taken and fresh capital was raised. The weakness continued into 2017, with the mining market being unexpectedly weak right through until July. Since then we have had a steadily improving market, but nothing as prosperous as the first six months in 2016.

We go into 2018 on a positive note. Most negative factors that have played on the markets in recent years seem to have either self-corrected or markets have learnt how to take them in their stride. It seems that the fear of market failure is being pushed aside by the fear of missing out.

Money is being made, capital is being raised and apart from lithium battery input stocks, most share prices don’t look overheated. We are part-way through a bull leg of an extended cycle. Many glasses are either half full or half empty, but there is a feeling that markets will go higher before they fall again. Political and social trends leave a lot to be desired, but they haven’t been a drag on recent markets.