Hostile Takeover - Tuesday, page-66

Hi Eternit.

4400 sound far but its only around 10% lower from here and I believe we will get there very quick.

The sentiment is bad across the board, US, Europe, EM you name it.

I believe results will be mixed in the US and the market is waiting to punish them for it.

In Australia we have nothing.. I know few have been pointing to bullish signals on banks etc but the reality is, the prospect of more regulation on funding and capital requirements for Australian Banks means they are just not well bid at the moment. Div growth will be subdued.
Resources are finished.
Energy Finished.
There is just no Catalyst for this market to suddenly start rallying.

I think we are only at the start of this correction.. 10-15% is on the cards for sure.

From there, I am still undecided on whether this will be a GFC style crash or a more subdued 15-20% correction followed by a boring rest of the year.

Anyone who is bottom picking this market right now because we are 'overold' is either so rich that they treat trading as Casino game to have some fun or has no idea what they are doing.