I am guarded about the next few days. I think many in the US are considering this to be either the "technical correction they had to have" and will not be buying until it has fallen 10% or more, to about 12,600, and others see this as a bearish trend and won't buy regardless. Given that this seems to encompass the majority view as I gather it from looking at US trading sites and news reports, this will become self-fulfilling.
There is little doubt the ASX will take a hammering on monday - like sheep we are with our American shepherd, who occasionally does the kiwi thing and F#^%s us right up.
I expect to see either a flat/slightly down on the DOW monday or even bigger falls than the last two days - what governs this will be early sentiment and economic news. I read the US sentiment as very bad at the moment, and any bad report - even from a smallish sector could trigger a stampede for the door. This is not all bad - lots of sound stocks will be very oversold and give excellent value.
I think it is safe to buy solid near-term producer midcap stocks or blue chips that have already been very oversold. BHP presents good value ($40 within two weeks). Oversold solid near term producers include AGS and MMX.
TRF and CFE also look to be relatively good value though higher risk if this turns into a real correction.
I almost forgot GDN - will be a fair buy when it hits 0.1c some time on Tuesday.
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did you bought in yesterday doh doh doh, page-35
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Last
$71.65 |
Change
0.470(0.66%) |
Mkt cap ! $13.93B |
Open | High | Low | Value | Volume |
$71.16 | $71.83 | $71.14 | $8.007M | 112.0K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 23 | $71.65 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$71.67 | 209 | 11 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 23 | 71.650 |
8 | 207 | 71.640 |
10 | 154 | 71.630 |
6 | 121 | 71.620 |
5 | 186 | 71.610 |
Price($) | Vol. | No. |
---|---|---|
71.670 | 149 | 10 |
71.680 | 64 | 5 |
71.690 | 71 | 6 |
71.700 | 155 | 9 |
71.710 | 107 | 4 |
Last trade - 15.07pm 10/07/2025 (20 minute delay) ? |
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