Good luck with that one Sgt Pepper.
Careful you may be done for insubordination! haha
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A heck of a lot depends upon your personal financial circumstances. At a guess at age 30 I would say if you need some of the money in a few years for a house deposit, if you're about to have a new baby or need some of the money for another reason soon or think your job is insecure (e.g. the Glenbrook steel workers) then common sense suggests you need to take steps to mitigate the risk of the market correction e.g. sell half. OTOH if you have no near term need for access to your capital and are in a secure well paid job or secure self employment earning good income then progressively dollar cost averaging down and selectively buying opportunities gradually over the next few weeks might make sense. Hope that helps.
The recovery is beginning, now that the retail investors have "finished jumping ship", less emotional institutional investors are beginning to see the fundamentals are still very strong... NZX 50 now up almost 1% from the lows (now only down 1.6%) and ASX didn't have a "blood bath" like some were expecting (was down 0.8%), now actually up... so:
ladies and gentlemen... Start your buying!
Gee nothing black about Spark hit $3.16 not long ago, got this one right anyway.
spark rocks
ASX up almost 1%... well bears I hope you enjoyed your day and a half... but the bulls are back in business
sorry ASX up 1.2%, and NZX down less than 1% (its moving up so fast I am struggling to keep up...)
The buying drought is over ...It's raining (dead?) cats and dogs now:)
I agree Hoop, I think selling opportunity. ASX200 is up over 5.5%!
The more I think about it, the more I think about what is happening around the oil market and how the global economy has been built on oil.
That risk with oil is still out there & coal obviously.
Lots of debt, lots of derivatives.
China is really the only reason the global economy has any semblance of growth in the last seven years.
Maybe we need a real meltdown as propping up markets and bail outs just defer the problem and nothing changes and nobody learns.
Thanks for some of the advice, I think once I actually posted on this thread I seem to have gotten a few replies from people who are holding/buying. Prior to that all I was reading was gloom and it kind of made me think twice (am I really doing the right thing when everyone else is selling) But as NZsilver/Roger have noted, I am not in a hurry to get access to the funds. I may actually look at purchasing a few more this week. I have learnt a few things from people on this site in the past couple weeks, thanks to them as well.
That's a blow for The World According to Andrew Little - the Australian sharemarket has gone up....
What is Buffett doing?
ASX up 2.1%, NZX 50 down less than 0.5%, one of the biggest market swings I have seen, not surprising because things "were getting silly"... expecting NZX to be in the green by the end of the day (we've already moved up 2%, lets move up another 2!)
Correction 2.6%... hard to keep up..