market turning point..

There has been a mountain of cash raised over the last several months as funds and investors drive into cash. The yields of some of our major companies have traded sub 10x. This is a rare event. I think in the near term, our market will turn and turn very hard as people start looking for the over done stocks with strong fundamentals. The banks will be the test imo as their yields are reaching a point where the market has factored in a calamity. I am not able to pick a bottom, but at some point the money will hunt down the obvious stocks. Our index is really getting melted on the back of the financial stocks [make up large part of index] and this can't go on for ever. I get the feeling that when this comes [out of the blue], it will be better and stronger than the previous dead cats when have seen as the stocks break down. A lot of funds will be under weight sectors of this market and must be just waiting to pounce. I am looking at the banks and QBE in the big end. Lets hope the interest rate rises don't melt the residential property market, or all bets are off with the banks. I also don't believe the banks have allowed any where near enough room for bad debts and the market is doing the talking by selling them off.I guess time will tell. dyor and good luck.