I haven't see any let up in the selling. It must happen, but it didn't happen today.
Now - let's just look past that comment and think about the future.
Yesterday I headed up the blog with "A significant day". If I'm right, we now have a major change in market psychology. The "why" is for others to ponder and write about ad infinitium.
Sell the rallies. That's the message. Up till now it's been buy the dips.
If you want to trade long, be sure to be quick on the sell trigger.
That's how I see things now.
If you're a long term investor - I have no words of advice. That's not my line. You might have bought Woolies back when it was $3 a share. Why would you sell now?
If you're a recent retiree without enough funds to see you through the next 20 years of fixed income - you might consider your options.
There was nothing in today's figures to suggest the selling has stopped - other than the fact the market is oversold. That means nothing. An overbought market in a bull market is good news. An oversold market in a bear market is bad news. It will probably get more oversold.
Any respite is just that - an opportunity to sell shares or sell short.
The market is grossly oversold - a relief rally is due. If I was long in this market - I'd be taking any up move as an opportunity to lighten up.
But - your situation would be different from mine. Do your own research.
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