Is current market weakness a buying opportunity?

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Question asked 06/05/2022

Is current market weakness a buying opportunity?

Hi James, Given some of our stocks are trading well below buy points, do you see this market sell of as an opportunity to top up on quality names or could this be the start of something more sinister? Appreciate your thoughts. Many thanks Alex

Answer

Hi Alex,

For most of the year MM has been looking for the ASX200 to push to fresh highs before enduring a tough 12-18 months. At this stage we are sticking with our short-term bullish call but only just, we’ve already migrated into some more defensive stocks but our cash levels are fairly low. Hence our interpretation / thoughts comes down to a subs market commitment, we are not increasing our exposure into current weakness but we probably would if we held higher cash levels.

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ASX 200 Monthly Chart

LAST UPDATED 06/05/2022 17:12

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