Now is not the time to fall in love with the stock market. Investors should be discerning in what they hold, buy and sell. Essentially, the market will start looking like a stock pickers market rather than following a general index approach. That also supports the notion of booking profits when they present themselves.
Seeing a 111 point swing in the ASX200 in just under 30 minutes should be cause for concern. These big intraday swings are good for trading, not holding.
I will keep a core portfolio that includes some AKE, MIN, BHP etc but I won't be looking to add any long positions any time soon. Not at least until the March 16 Fed meeting. Now is a time to trade.
AKE Price at posting:
$9.19 Sentiment: None Disclosure: Held
