Unfortunately, so many people are piling into term deposits,...

Unfortunately, so many people are piling into term deposits, ETFs and the mega-cap CBA's of the ASX, there's very little liquidity left for the rest of the market. The headline ASX supposedly does pretty well most days, but if you take out the ETFs, CBA and a few other big cap stocks, the picture isn't so rosy.

Im down probably 25% or more over the last 18 months, mostly because I'm heavily into resource and energy. Just look at FMG to see how 'on the nose' resource stocks are..

Even BHP is struggling now.

I would like to think people will pivot back into spec & resource stocks when interest rates drop, but I have a feeling all that will do, is blow up the real estate bubble/ponzi-scheme again. It's really looking pretty bleak for any small-mid cap stock that aren't able to maintain >8-10% returns at these depressed stock prices.