pe 12

Yes its a 12x PE but that is historic earnings, the market believes earnings will fall. It is not the P that is the problem it is the E. Market thinks Australian growth will slow because of US. Yes it will slow but by how much that is the game that is being played. Will Asia carry us through, depends on how much Asia will slow because of US. This is a global market, it all goes up together and it all goes down together. I think it is oversold but the market so far is disagreeing. Buying opportunities will come, Are you an investor or a trader? If investor no need to pick absolute bottom just take a five year view. If you are a trader you can enter the game on either side. There will be rallys for sure but likely now they are bear rallies.. The new prices of stocks have been set. The old prices have gone. The market has no memory or conscience. Expect a slow climb back up.