The window dressing that tricked the market

Bonuses and other EOFY benefits had a rollercoaster ride last week as the Australian bourse rose and fell two per cent. Overseas investors are being scared off and it's making for a dangerous marketplace.

Something very strange happened in the Australian stock market during the last week – in the two and a half trading days before the June 30 balance date our market jumped about 90 points or just under two per cent as measured by the ASX 200.

Then on July 1, the first trading day after balance date, guess what? We lost the whole lot, falling around 90 points or two per cent.

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