Hope2008, i can probably see another round of writedowns but not...

Hope2008, i can probably see another round of writedowns but not as harsh as the previous ones.

But on the positive side i firmly believe that the distressed selling in general throughout most stocks via the ASX is probably over.

Investors are looking for value atm and there's plenty of stocks around that are trading well below their intrinsic value.cer is one of those stocks that can really get going but the players during the day need to allow the stock to breathe and by this i mean slow gains with some profit taking and then steady moves up (2-3% gains each week) achieving these higher highs and higher lows which we are currently witnessing until the true value is achieved which atm is still way off.

Since the stock market is a future indicator one must say that the market in general is starting to head in the right direction as the market has priced in most of the bad news and the economy will soon follow i.e. further down the track.

The doom and gloom commentators will continue to preach their monotonous messages and not achieving anything in the process.The fact of the matter is economists and commentators almost never get it right.

Our market has lost over 50% from their highs and investors have to be realistic and enter the market at a time when prices and valuations look silly as most are looking to bottom fish. Keep in mind nobody can time the market with precision (virtually impossible).But what u can do is find alot of value in companies in times like these...Just another market cycle as far as i'm concerned until the next bubble 5-10 years from now but each cycle is always different.

The next phaze i'm witnessing is the very early stages of the next Bull market.I always refer to bear and bull markets as sowing and reaping seasons.This bull market will be a slow process and when the banks are finished with the current cleansing process and proper implementation of policies throughout the sector then this will trigger a new bull.

I firmly believe the asx has bottomed out but probably a little more bad news yet from our buddies on Wall Street which might cause some extra volatility in the short term but not enough in my view to break the 3100 lows (i.e. lower lows).The all ords needs to on a chartist perspective break 4000 and slowly climb up when you see this and it holds for a while then the bottom in march 2009 is confirmed imo.

p.s. Hope2008 do you hold any other core stocks if so which ones?

cheers