It is sitting on the 23'6% Fibs since May 2003 when the rally started. Things potentially can get really crazy and tomorrow we lose 3000 points to go to 38.2%. Some 13% down from current levels! Accelerated selling! Mania! Cat amongst the pigeons! Would love to buy ASA at 85 tomorrow 14:00h!
i never experienced a market crash but would like to hear from those who have . After the crash is there a mad scramble to get back in the market or do investors trickle back into the market over a period of time
welcome....markets could very well remain in the doldrums for quite a couple of months until more certainty is established specifically in relation to prospects for the US economy...luckily the Fed has some leeway to lower rates and appropriate measures are being taken...but this will nevertheless require time to take effect. Once the initial panic that we are now seeing has subsided, the market will provide many opportunities again...especially if domestic interest rates are lowered later this year. If you are short at the moment, you will be smiling in any event! Some of the GDFI-related shares being discarded at present are starting to look very attractive. omo
I can imagine ASA @ R90. I bought @ R133, and holding on for dear life, time is on my side so i'm cool. Will buy again when there is direction to get some rand averaging on the share. I just hope property does the same with the high interest rate and JZ.