fri arvo selloff, page-22

re: they're switching I actually think jennifer's most makes much more sense than a lot of other garbage i read on the asx or xjo threads. So many trying to pick tops or bottoms which is generally a mugs game, i mean sandune has called a market top and the coming crash since the mkt was pushing up to 4000 points, he will claim he is making money which is even sadder to see someone in such denial.
The sensible way to play this mkt is yes its become dangerous, i mean any mkt which is up about 23% in 6 months and 10% in a month is ripe for traders to cash in their chips quickly on any scary news.
As we have gone through 5000 I have gone from a geared portfolio to actually entirely cash, but will i post that a crash is coming in the next week or something, no, that is rediculous, no one knows and we can only make the sensible risk / reward plays. Sure if the mkt rises to 6000 points i will not make as much as some, but i have done very well from being geared into this mkt for the last 3 years and overweight resources so i don't really care. I may go net short the mkt but won't take big risks shorting, those posters here who take big short positions i will say be prepared for anything, i know many who tried shorting the nasdaq around 3000 points, ultimately their rationale was spot on, but how many had deep enough pockets to hang on while it got to 5000, many got stopped out on the way up for massive losses only to have salt rubbed into their wounds as it then crashed.
If the mkt does correct 15-20% well i am happy to buy up again as the valuations will still look quite good.