I only recently found this great site so a hello to you all.
I was hoping to get some opinions on the below. I know you cant recommend but i was hoping to get some discussions going.
I have been sitting in cash for about a year now. I have 30k ($30,000) to invest.
I dont want to day trade, i want to invest for the long term, no end date to be honest but im obviously going to keep an eye on my stocks and make changes as needed.
I dont see the market going anywhere fast, it may be like this for months, maybe others can share there views on this. Only movement in the months to come must be down.
Therefore i was thinking of dollar cost averaging in 3 parts, 10k at a time and moving in again each time once a valued opportunity arised.
I was thinking of starting to buy any day now at:
3k into BHP - if drops another 10% from lows today of $24.93
2k into Woodside - if drops another 10% from lows today of $35.87
2k into Westfield - if drops another 10% from lows today of $14.04
1k into Stockland - if drops another 10% from lows today of $3.75
2k into Lion Nathan - if drops another 10% from lows today of $8.65
I know the prices above are quite low but we really dont know how low the market could go.
If i purchased the above and if prices were breached again by another 5% i would buy more and same again if they fell a further 5%. If that was to happen it would mean i averaged in about 15% off current lows.
Do you think with a long term view and if the above was achieved do u think it could be right or fair to assume that my 30k could be worth 40 to 50k in a few years? In a few years things should have settled and a normality would be back. I would have possibly 50k in a few years and returning me dividends of 5% or so?
What are your thoughts?
Also do you feel i am missing a sector or not diversified enough?
I know some will say that the timing of entry is not so important if i have a long term view or cant be timed at the bottom but as i see there is no rush and there is no good news about and i dont expect it any time soon so i really think these prices can be realised.
Other stocks im watching are:
The banks but i have an aggressive view on them, lower future earnings, capital may need to be raised for some and some additional suprises are in stall so i would buy at around a 25% discount from now.
What are your thoughts guys? Should 1 of the above be added to my portfolio?
What are your ideas or entry strategies?
Its just sharing ideas. I wont act on 1 persons ideas, i just want to hear opinions. Maybe hear other peoples strategies etc.