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born 1946-1964. I dedicate it to my sister Pamela
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Mature aged caught in a sea of dispair - a need for government focus - Bonza Media Release - 2 Feb 2009
So what can we expect in the market?
During the last two weeks the Australian market has continued to fall away to a low of 3215 points as of this morning. You will remember in my last report that I thought the move up early in October was promising but not enough to convince me that we had seen the long term low I have been expecting. I also mentioned that it was likely the move up was a false move and that there was a high probability we would get one more move down with the market likely to fall to a low of between 3400 and 3500 points.
Whilst the fall has taken longer and moved lower in price than I expected, I still believe we are close to the bottom. Even though we are close to the bottom of the current downtrend, it is not wise to pre-empt a market bottom. Instead it is far better to wait for confirmation that the bottom has occurred before acting. That said, we along with many others are getting very excited about the market and are ready to enter once the low is confirmed.
Dale Gillham is a best-selling author, share market expert/educator and the chief analyst for share investment firm Wealth Within www.wealthwithin.com.au
To speak with Dale Gillham, please contact Nikki Mumford on 0410 424 769