80% chance? How did you arrive at that figure? I think it's too...

80% chance? How did you arrive at that figure?

I think it's too hard to pick the bottom but if you're trying to average into WOW, starting with a small position at these prices are not a bad idea so long as you're in for the medium-long haul.

The economy is crapping itself and the government has absolutely no idea except to tax kids going to uni, people visiting the GP, and making other indiscriminate cuts including the public service such as cutting back tax auditors so big corporates and multinationals can continue to rort the system.

Believe it or not, the ATO is actually piloting a program where companies instead of having the ATO audit them for free, can instead can elect to pay big accounting firms out of their own pocket, to do both their compliance work and tax audit! Talk about a conflict of interest!

I had such a laugh, I rang my accountant and said, "hey, what would you say if I said you could do both my tax compliance work and tax audit instead of the ATO and it would be all legit?" He laughed and said, we would have a field day... in our dreams. I forwarded him the article and he was just astounded.

Too bad this program will only be available for the big companies... meanwhile, the big guys are trusted to self audit, the ATO will keep hassling the little guys, small businesses and individuals to court to make an example out of them because they're the only ones that can't afford the lawyers.

In summary, the government is too inept at fiscal policy - so the RBA will be pushed to do the heavy lifting, interest rates will be headed towards zero and people will be on the hunt for yield. After seeing the carnage in the resources sector, Woolies with a bit of margin pressure is going to look like a walk in the park.