Thanks for the reply, totally agree we shouldn't be in all cash, but doesn't hurt to be nimble. Yes, hard to determine the market direction, but the US will drag us down on & off for awhile yet IMHO. My strategy is to have one long parcel and one trading parcel in stocks that I feel have some potential to go up, if I feel that it has peaked I will also sell my longs and wait for another entry, it seems to work better in a bear market
I will definitely be buying back into WPL, but still frying other fish, and my gut is telling me to stay out (rightly or wrongly). Psychology we all need reasons to hold or stay in a trade, I'm looking forward to when my Bull switch comes back into the front of my mind, as it's much more enjoyable then trading on your wits (although I do find it a challenge at times).
Based on previous crashes, my feeling is the economy has reached a peak, and in truth it has been a false economy for quite some time because of the world governments pumping money into the system, my business is at the coal face of industry so I generally get a warning (that all is not well) a few months before the rest of the financial gurus, at the moment things are fairly robust, but I expect that will change within 12 months (not saying I'm right, just going off instinct). We are generally a year or so behind the American economy which I believe is in fairly bad shape, and running on the last of the cash sugar rush.
When it's all said and done, IMHO you should have a slightly bearish outlook at the moment, it makes me nervous when I see overly optimistic opinions or projections because there are a large number of investors that do not have the experience to form an educated opinion, and they may rely on others for guidance. I would say to them, do your research & don't be in a hurry to buy in. Spend some time learning charts, and treat your capital like gold.
WPL Price at posting:
$30.70 Sentiment: None Disclosure: Not Held
(20min delay)