@zxcv1234 Thanks for your reply. I suppose it all depends on...

@zxcv1234 Thanks for your reply. I suppose it all depends on your investing strategy. I look for stocks that I can hold long term and during down turns assuming the fundamentals are still in place I will see this as an opportunity to top up. I think you will find the market is slowly changing from a growth driven equity market to one focused on actual earnings so we are beginning to see the signs of pull back in company with high valuations even with growth rates that most companies would be envious. This is actually healthy for the market and hopefully will prevents these massive plunges should a prolonged down turn occur. I am definitely not bullish on the BAT because of valuations that have gotten ahead of themselves and likelihood for capital outflow in a slowing Chinese market hence, the prices will probably tend down until things in China stabilise. With regards to Tencent their growth dropped this year primarily due to its gaming area which at this stage is its biggest earner. Most of the other areas cloud storage, their movie sector (Netflix equivalent), advertising and even Wechat still had very good growth. A further 10% drop in Tencent will see it back into the high 20s for its PE ratio and I think this will have flushed out most traders not interested in being long term holders. Once TENCENT earnings are more evenly distributed among its different segments and earnings tick up again I might be tempted to dip my toes in and buy a few of their shares. In terms of NOV I think it will be more influenced by company news indicating continual growth rather than the general market trend. Sure share price appreciation may be slower than it may have been if it were in this same position 2-3 years ago during the surge in the bull run but, this may allow for a more gradual share price appreciation aligned with present earnings thus, reducing the likelihood of dramatic swings one can experience with growth shares. So I am in for now and looking forward to seeing NOV hopefully evolve into a successful company. Good luck with your investing.