In this market I'd be sitting on the sidelines until it has...

In this market I'd be sitting on the sidelines until it has clearly bottomed - and we're not there yet.

Many suggested this had bottomed at $50, and a week ago I felt that may have been the case but I wanted it to hold there for a few days before buying in.

I'm now glad I waited, and will continue waiting until the trend reverses. While that means I won't be buying in right at the bottom, at least it means that the share price will be monving in the right direction once I invest.

With the amount of volatility in this market at the moment I think the sideline is the safest place to be in most cases - you need to make sure you preserve your capital before you can start to think about making profits.