Friends, ive been in this game a fair while now and what we are witnessing at the moment is not your average market slump by any means.
Mr Market has been having a good ol time these last few years, indulging in reckless abandonment at will, but he has overdone it, the carefree times are coming to an end. Now its time to clean up the mess and pay the huge bill that has been amassed.
Mr Broker and Mr Market are one in the same in my opinion.
I agree with all of you in regard to BHP's promising fundamentals, but that will warrant little notice in a broad based market sell off, where common sense gets thrown out the window and fear and panic sets in. Ive seen it before.
Will there be defensive stocks with which to take refuge to weather the upcoming storm?. Gold stocks? nope...Resources?..nope, Financials?...hell no.
Friends, i can see a move into cash in the near term, and it wont be an orderly procession, dont get caught in the stampede.
BHP Price at posting:
$39.29 Sentiment: None Disclosure: Not Held
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