guessing by a novice, page-5

churchbat: well i for one would like to see it go back to $20 so I could buy up big but I seriously doubt that we will see the price back down there in the short term or maybe at all.....

I bought some at $20 and I remember feeling very nervous about doing so....The mood was extremely depressing and despondent. I sold out a few days later because there was little confidence and certainly a lot of talk about prices going to $12 and lower etc etc....It was really hard not to be influenced by all the negativity. I wrote down how I felt at the time and it's really interesting....there was a lot of disbelief that the market could get so low which meant that stability had left the market......Nothing to cling onto in form of support.....

Even people who do not get involved in the sharemarket consider BHP to be the stalwart of the ASX so a massive drop in the SP has a very dramatic effect. Conversely, a recovery in BHP will be viewed as a signal that the market has turned.

The mood has definitely changed.... there just isn't the same overwhelming sense of doom and gloom....To revisit $20 market sentiment would have to become extremely negative and given that the price has recovered despite continual bad news it seems unlikely. Having said that, there is always the possibility that the unexpected can happen. So who knows..there's no crystal ball unfortunately....