i have been bullish for most of the time since early feb but i , like everyone else got nervous when the market looked very scary in early to mid march - but that is normally when they bottom.
however, whilst i sold some stocks ( took losses ) i tried to replace more speculative stuff with some of the bargains in stocks i had long admired.
I will probably be wrong if i try and tell you where the overall market heads from here but i will tell you that it will be a long time until you get cba nab wbc anz cpb bhp rio wes bkw sol org qbe at prices of a few months ago or nov-early dec last year which was another time of irrational fear. sure they all havent gone through the roof but most are up 50% and qbe and org are finally looking a bit better.
once i was more confident the world wasnt going to end in late march to early april i bought some more speculative stuff which i am also confident that most will hold their lows - mainly mining contractors, suppliers and engineers - i have taken some profits in many of these and may yet lose on bdl and even mah if they keep behaving badly. miners included well cashed up srl, nhc, cfe.
i then chanced my arm at some property trusts which i hadnt bought for 5 years or so , and i have been in some media and technology.
people try and talk about the market as an entity as though it is one in all in - well it isn't and never has been. even in the gloomiest of times there is opportunities in certain sectors or even single companies. csg stocks didnt have much of a bear year, maybe a few bad days or weeks. and back in the late 80's and early 90's there were opportunities - i know i regret selling the stocks i sold in sept 2001 after the terrorist attacks, but didnt regret selling many of my tech stocks before the bubble burst in 2000.
