Do you ever wonder why buy and holders bother to post on this forum.
I am a buy and holder too with a percenatge of my investments.
But if that is all I did, I would be off doing something else, rather than dissing
Reply ; Whatever is posted in the general arena is open slather for all and sundry . I also like taking a cynical approach to some posters at times as I compete/trade the best when under the pump . I really fear for the long term holders of stocks who don't take insurance as each pull back over the last 3 years has hurt some .
TROUBLE is I don't think any of us really know if a small pull back will turn into a mini or even a major crash and so far this pull back has been minor but we are only one week into it and logic based on the past says we could see atleast a month or so .
I had a mate pop in a week or so back , he's reaonably wealthy and retired age 40 ish . He was adamant that the share market and property was going to crash [cause his mate told him]
So I suggested if he really thought that then he should sell his properties ! His reply was why would I do that .
well ummmmmmmm CAUSE U CAN BUY THE DAM THINGS BACK CHEAPER LATER ON .
Lets think about it for a sec . Things go up and things go down . When we don't own them we want them to go down so can we buy em cheaper than the present prices . When we own them we want them to go up and pay more divvies .
When we own stocks we adjust our charts time frames to suit our present feeling when what we should do is be clinical and mechanical and say the things in a downtrend lets cut our losses or crystalise our profits and retain our cash/bank balance !
Now why didn't I listen to Mummsies all those years ago ? lol
Note quite a few of the prev pull backs [spi/xjo/xao ftse dow spx ] over the last couple of years have taken out the yearly open price but it's always recovered .
BUT I WONDER ,and I really don't know, if we are about to go into a banking/liquidity crisiss . Something is very wrong O.S and NAB looks very suspect here .
London ,I believe, is still the home of finance and they are the sickest chart at present .
We can only hope ftse puts in a white candle next week and if it was to do that it may imply 1 or even 2 weeks of up and then another 2 big/small ones down . Conversely if it was to lose momentum in its slide and only do 2 or 3 more little weeks down from here then it's a good sign it's not crash positions .
BUT IF the momentum continues next week at this rate it's gunna get real ugly . Mr market does not wanna crash here , infact none of us wanna crash here , but it's not to say it can't happen .
(20min delay)