Forget about valuations. With all due respect this market does not care about such things. Unlike the GFC meltdown which was swift and brutal this market is the death of a thousand cuts. The worry is the Dow jones still sits at 12600 points. During the GFC it got below 8000 points. If bad news surfaces in America some of these stocks that have been decimated will be considered still too expensive. The question is what will change sentiment in this market. What will encourage people to again have faith to invest in the sharemarket. As hard as I try I haven't been able to come up with an answer to that question. Confidence has well and truely been battered. People are keeping their money in the bank. There is no NEW monies coming in to drive shares higher. Unfortunatley it is what it is.
Cheers.
AMX Price at posting:
41.0¢ Sentiment: Hold Disclosure: Held
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