After a day like today, the analysts will be doing their post mortems and telling us how the market has been "sold off" and that it was a "seller's market" etc. etc.
To state the b....ing obvious, for a trade to take place, there has to be a buyer and a seller. If noone is willing to buy at a certain price, then the trade simply wouldn't happen.
So today, for example, although the analysts will tell you it was a "seller's market", every stock sold was also BOUGHT.
Does that mean that everyone that bought a share today is an idiot? Of course not. Many buyers (and let's exclude algo-trading, INSTO's etc.) bought at these prices because they figured there was money to be made.
Some will be wrong and MANY will be right. I'm a hopin' I'm one of the latter with ABU and as I've said, I'm here for the long term.
ABU Price at posting:
4.2¢ Sentiment: LT Buy Disclosure: Held
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