Ann: Change in substantial holding, page-10

What you say is true most retail punters with little knowledge of the stock-market normally contribute to a capitulation bottom and cash out at the absolute point of despair. I got my son out of the market above 7000 - he had $150k in direct holdings through ETF,s and he rolled his $300k super into cash.

He has phoned me 3 times since he sold itching to role the super cash back into shares . The first time was after the market had fallen to 6000 , then at 5000 then again at 4500 each time posing the question that surely the bottom must be in now.

My advice to him is all were going to see is volatility and smaller dead cat bounces - I cant see any rush to turn cash into stocks even given that cash in the bank is returning almost zero . He has another 30 years working life ahead of him so a year with no growth or more importantly no further decline isnt going to be a problem in the grand scheme of things .

Different for me being 62 and still 5 years before I can get a pension I will continue to day trade and scalp with no overnight holds. Personally I think we are on the road to a depression and god knows how many millions of deaths.

only 6 weeks we go we were at euphoria new post GFC record highs