Downgraded to Shred - Tuesday, page-108

while the US market was overbought and well due for a correction, the ASX has been underperforming the past few years and even at 5990 was well below all time highs, unlike the US.
China had a raging euphoric bull market which rose over 100% in a year so it too needed a serious fall.
But it's not like we had a raging euphoric bull market here in Australia, not since 2007.
so I think the worst is over for the ASX, and doubt it will fall much below 5000. if it does, there will be plenty of buying support as dividend yields will be too good.