Myself and a couple of friends have recently consulted our brokers, with a view to some selling. Different broker/organisations, same opinion "Dont sell".
I am curious about this. Technical indicators are rather bearish. The brokers remain bullish. I would have thought they would be happy to churn as many sells OR buys as we want, thus earning commission.
Our cynical minds, wonder if there is any ulterior motive for them to recommend a client not to sell. I hope that I am not implying that the brokers are not acting in the clients best interest, we simply want to enquire if there would be some reason such as either; any sort of residual income, or broker prestige related to the size of their accounts under admin, or any other reason unknown to me.
My opinion was that the vast majority of their income came from commssions.
Of course my financial advisor has recommended holding, same for my sisters.
For what its worth, we all did some selling, me partially in order to move some more to my SMSF, but also to cash up a bit.
AS I have mentioned before, I joined ASF to learn more of a technical trading method, and as tech indicators are for at least some selling, that is what I have been mainly doing. I have bought into agricultural stocks and gold most recently.