I can remember talking to an old bloke once about the 1987 crash. He told me that when he went to sell, there were no buyers. Hence the large falls. Sorry to state the obvious, but I've been watching the ratio of buyers to sellers and am surprised that the number of buyers for quality companies is going up.
Maybe we are closer to the bottom than we think.
The same old fellow said to watch for BHP at a PE below 8 to get an idea of the bottom of a bear market. BHP is now below 8, even allowing for commodity price drops.
So, I reckon we must be near or at the bottom now.
Just my two bobs worth!!
where is the bottom, page-43
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Last
$38.74 |
Change
0.290(0.75%) |
Mkt cap ! $196.1B | |||
| Open | High | Low | Value | Volume |
| $38.59 | $38.83 | $38.33 | $206.7M | 5.351M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 33 | 7699 | $38.73 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $38.74 | 2590 | 12 |
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| Last trade - 15.58pm 09/09/2024 (20 minute delay) ? |
| BHP (ASX) Chart |