G'day all you bulls, bears and others,The all ordinaries is...

G'day all you bulls, bears and others,

The all ordinaries is currently down 36.1 points, or 1.18% to 3021.9.

As many of you are (I guess) traders, you may be a little nervous to hold over tonight. I know I am!

I think investors have been fishing around for value today, providing reasonable support in a relatively resilient market.

I believe however, that better value will present itself to us in the short term - within days.

I'm still long on gold and hold a couple of gold producers, but apart from that I'm holding cash and waiting for the right time to buy oversold stocks.

Like me, many of you thoroughly research listed companies. In a declining market, opportunities do arise, whereby value in some stocks becomes irresistable to the trained eye. I'm not talking about NCP or other large, overcapitalised goliaths, I'm talking about good companies with sound fundamentals, low P/E's and good growth prospects. (AUO, etc..)

Play it safe, hold some cash and identify value.

Always protect your capital.

Good luck.


Regards,