There are no buyers. The ASX was highly leveraged with margin loans and foreign hedgefund money; all that is gone.
I think people will be surprise at how long it will take for the ASX to recover to 5,000 points, let alone the high of 6,800+. I am hoping 3 years, but keep feeling 5 years.
I have certainly changed my view to more trading, and less hold and sit.
Cheers, Skip
