Totally agree PhilForget about the market.If you need to sell,...

Totally agree Phil

Forget about the market.If you need to sell, then you missed the boat. Time to buy buy buy oil and gold and i mean producers such as CVN oil and DIO gold...forget speccies.

Unless you are oblivious to the news,this is happening worldwide to each and every stock irrespective of how good the stock is or industry.

Stop loss triggers are firing all over the place and stocks purchased via margin lending are being sold off by the lenders.

If you arent in it for the long term or have not sold your stocks by now, then you have just been burnt.

My two cents worth...The fallout from the sub-prime market in the US is currently being felt in Aust with some recent interest rate rises as the banks pass on the higher cost of raising funds to the consumer (... official rates haven't even gone up yet but the banks must maintain their fat profit margins). It's much expected that when the reserve bank meets in early Feb to consider interest rates they will increase them. I expect this to be a mute point with the stock market already factoring in this rate rise and right around when the reserve bank increases rates you could very well get final low in the stock market and the trend will then turn up. This would give us Feb low, 3 mths down from 1st Nov 2007 high and quarter of a year and seasonal time for a change in trend. This is what I expect with the outside chance of final low in March.

If your really nervous about the stock market (ie. risk US will slip into a major recession) I would sell some of my holding to lock in some profits but my tendency would be to hold tight on the lot and ride the next wave up but consider some further losses until early to mid Feb.


Welcome to the wonderul world of share trading.