Thanks for that and yes, another negative day today for the market. Not sure if anyone follows ispyeft.com? I think he has a great track record and he was picking this move as well as plenty of other rallies and corrections. Last email he sent out suggests this correction is probably close to its lows. He usually doesn't try and forecast too far out with any strong conviction but he seems pretty good at picking significant turning points.
Despite this market falling because of high inflation, it's illogical that stocks like MNB should follow because that same inflation strongly benefits MNB with extraordinary margins as a result of the high fertiliser prices. However sentiment often outweighs fundamentals in the short term creating these better than normal opportunities.
Like you, I expect to be cashed up in a few months, for me it's on the sale of my home with a big equity amount and it'll be tax free cash looking for bargains. Can't wait, but it will probably come too late for me to get the best bargains.
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