The Market Wrap Friday 2-10-09

Is this the pull back?

By Jason Fittler

September did not live up to its reputation as a down month, putting on around 5% for the month. October could be another story.

We have been looking it and the next week or so could provide the pull back I have been waiting for. Confirmation for me would be if the market gets back below 4500. This is indeed an opportunity to start buying back into the market and get that spare cash back working for you.

I do not expect to see the market revisit the lows of March, I would be surprised to see it fall below 4300, however, if this was the case it would struggle to drop below 4000. Please do not be fooled, there are still some tough economic conditions to overcome but at least the worst of it seems to be behind us now.

Now is the time to make sure you are back in the market, there are plenty of great opportunities out there and if you do not make the most of it I assure you others will.