Hi Vindin. My general view is that we've moved into a bear market. You can probably write off much of 2016 but how it plays out remains to be seen. This is a problem for any SMSF assuming a longer term buy and hold view, in fact anyone who only trades the long side on a medium term basis. It a traders market and sometimes you can be better off sitting out of such a market for a while with cash and then pick off the bargains once the dust settles, if the market phase doesn't fit your approach. Taking 6 months off and then reviewing things will turn out a smart move for a lot of investors this year I suspect.
That said the one long position I can recommend is Bluescope BSL. I've been trading it since July 15, but topped up my positions at $4 a week or two ago. It's in a Wave 3 bull phase which should drive it to $8 and maybe $11 over a 2 or 3 year timeframe. I don't have my charts with me to check those parameters but something like that. Although I was keen on the business and chart anyway, I expect this sort of industrial company with valuation headroom will become a safe haven to hide for those fund managers that have to remain invested - anything that's not mining or In particular financials.
Other than that the miners will throw up some bargains this year, but be cautious as they can go lower than people expect. You want to be a bit late into these for a long term holder once a bottom is proved. That includes WPL.
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