Markets have been trying to find direction for weeks, but fact is even a blind person could see this sell off was coming with all the doom & gloom headlines atm, last night it started & tonight its picking up pace, Gold, DOW, FTSE, AUD all smashed, back to panic mode we go.
Way I see it markets are looking as they are heading for the best buying oppertunity since the 2008 crash, I dont mean we will see those prices again in 2008 (well I hope not lol) but since markets bottom march 09 many never got a good buying opportuinity as the markets went from strength to strength & big money was made all the way up, but since april 2011 when we peaked majority of stocks are significantly down from there highs wiping out the past years gains if not more, already we have seen some massive falls across popular stocks lyc/pdn the standouts the past week, chart up any blue chip & they have taken a serious beating, chart up most spec stocks & its even worse.
When will it end is anyones guess maybe DOW under 10,000 all ords under 3500 who knows, fear is peaking atm & maybe its what we need a good swift smashing down over a number of weeks to finally bottom out, consolidate & slowly head back up, wont be a easy ride over coming months but stocks are starting to look attractive & will get more attractive from here as panic sellers move in & sell at any available level.
Im not bullish & not overly bearish, just realistic the markets peaked in april & we have been dropping since so a bottom over coming months for this bear market may be on the cards, volatile times ahead but wise to keep a shopping list handy as the market goes into stocktake sale mode..
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Markets have been trying to find direction for weeks, but fact...
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