Mangrove,I have been in the market for around 5-6 years and...

Mangrove,

I have been in the market for around 5-6 years and quite active during the last two years (lucky me.) I have found the last 10-months or so very difficult and basically closed out all my positions around 3months ago with the exception of one stock which I refuse to sell due to considerable CGT discount credit; I suppose the two main points that have saved some considerable bacon over the last two years are;
1) I never allowed my Shares:Cash weighting to increase to more than around 60:40 and usually more like 40:60, I just have never felt that it was anywhere near justified over the last 2-years. Included in this bracket is very tight Money-Management using spreadsheets which allows me to track cash & trades to the cent at any given time.
2) Stop Loss.. ( The hardest of all the tricks to get which admittedly I have failed on miserably at times.)

Just like myself I am sure there is heaps of money on the sidelines weighting for blue sky.. A collapse of the property market in Australia would be a start along with some anxiety relief on the world scale and for this I would say Iraq done quickly to start with..?

As for the recent US lead rally.. ? ? ? You must be Joken.

Regards