This correction is hurting, been fighting hard to keep my head above water. Portfolio is down 6% today, im hoping the bottom is being hit right now... I have high hopes for the companies in my portfolio CCU, GOR, LYC, CQT, BDR, CJO but im hurtin' Does anyone have any hope for me?
LOL yeah thats true... OK the ASX all ords and the asx 200 both have one longterm up trend with support here, they also both have a medium term trend (2009 to now) that says there is support at 4500 (all ords), I banked on the longer term trend - but it may show in the following week that the medium term trend is stronger (although I still think the longer term uptrend will continue in the last half of the year) Anyone know charts?
i sold out of ccu a little while ago at a little above this price level. Regretted it ever since, I honestly cant understand how the market is behaving at the moment and maybe suggest that this market sentiment may be a pre cursor to darker days. edit to add: I wish i never sold CCU. Great company. Now.... i am not rushing to buy back in.
I appreciate your comments Mick, but I really struggle to believe 'this is it' - I do believe 'it' is coming, I dont know when TSWHTF, but I really believe we have at least one more 6-12 month period of growth in the materials and energy sector. Its scary, but we haven't broken through the basement yet... we had a mighty wallop and the boat is still sailing... lets see how we close the week. Funny enough my biggest worry is CCU, there is just no support, I believe its not in the .60's (or even .50's) simply because of the tenacity of the holders... I dont think many want to sell at these prices.
Josrichy - I think you just need to take a breather mate. Sometimes in these bad times, have some rules in place but staring at your online broker every few minutes can be unhealthy... I've been there! If you believe in the long term prospects of those companies then don't worry about this.... even if SHTF, there will still be a market for goods and hard assets. I like to look at gold and silver 10 year charts when I get a bit nervous. I'm sure those massive double digit % drops before were earth shattering at the time but now we look at them with some bemused detachment. - Somerset
I know what you are saying. I dont know enough about the markets not to get caught with my pants down. At the end of the day, I think 'it' is coming and regardless of whether something occurs next week, next month or in several years, I believe that the prices will be cheaper at that time than they are currently and I dont intend on trading in and out of the market to try and time it. I also wouldnt take my sentiment as the common denominator. Im just a stock noob.
