My advice - and this isn't financial. Nor is it professional....

My advice - and this isn't financial. Nor is it professional. It's just my advice - from a grist encrusted baker.

I think the selling is overcooked right here.

But I've seen this picture before. In 07, when the first troubles appeared, market wobbled a little and then roared on.

It roared until the behemoth BHP cheekily attempted to snap Rio Tinto. And suddenly the world was fine again. For about 4 weeks. And then there was 19 weeks of selling. No buying. No green bars.

Just long red ones.

Now, all that is missing is a mega monster deal that will send the markets soaring once again for the final burst up - in hope that such a large M&A prospect (which of course will NOT eventuate after due diligence and due to market conditions.....could it be engineered by Vampire Squid Co to get their shorts on?) would drive other activity and move equities higher.

The Greece mergers don't count.

This is of course based on past performances. The market could just as likely disintegrate into oblivion in a series of slow death cuts.