What a difference a year can make on the share market as the
ASX200 closed today at 5021. While the market had been as high as 5,997 points
during the year and was looking like getting to 6000 we now seem a world away
from it at the 5000 points mark. Looking at the performance of the market this
year it is only down 5% from the very start of the year so isn’t as bad as the
media seems to be portraying as needed a correction from the run up that was
occurring. What is actually more concerning is the fact that the market is only
trading slightly higher than it was 5 years ago (ASX200 was at 4582 as of
September 2010)
So now seems like a great time to go on a buying spree for
shares as the market is looking oversold in my opinion as is taking a very
negative view considering we are still not in a recession. Due to the belief the
market has been oversold I have been buying up big.
Stay tuned for my next post about what my most recent stock
purchase was.
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