I have been a strong bear re overseas mkts for well over 2 years. Shorted the DOW, DAX, IBEX and Italian mkt indicies. Did ok. Have never shorted the ASX although have shorted some individual ASX shares. Have been buying shares for past 4 weeks esp on the very bad days recently. Bought more soon after open today. I remain convinced Europe nd USA have huge probs with their economies esp the housing mkt. Korea, Japan also facig serious slowdown. I cannot see China escaping effects of world recession. Nevertheless, i reckon Aussie shares are near the bottom and am happy to buy stks with low debt and good divs in current mkt. But am avoiding bank stks as i feel they will remain subdued for at least a couple of years. Am mainly buying engineering/infrastructure companies eg. LEI and esp. MAH and MIN today.
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