It is almost end of Spring in Australia, but , as usual, we have the luxury of enjoying 16-ish degree Celsius in Melbourne most of the time. I always think Melbourne is a great place for trader, it just keeps you cool most of the time :). I am sitting in front of my workstation preparing next week’s trading.
I have a couple of friends from Singapore and India asking me about what should they do or when is the right time to go into the market. Obviously, most of people think that the meltdown presents a huge opportunity of life time to invest or should I say, speculate.
I have no answer. I have not established any new mid to long term stock position for months. Timid, well, maybe. I am just not feeling comfortable right now. So, my suggestion to them is to wait for the financial sector to settle down, and cash is king. At least, do not invest any penny into any company. Tomorrow you might hear this company is waiting for bail out 😆 Of course, this is personal opinion.
I am still speculating in currencies, but investment in shares/stocks? Leave me alone,mate 🙂