As you will have no doubt observed there has been a further downturn in the high tech sector. This appears to be pretty much the expected second wave of sell offs. My advice on this sector is to tread very care- fully and do your buying selectively. Might be a good idea to wait until Januray or February before even thinking about entering this area.

I see some good buying in what is now called the "OLD" economy stocks. Some to look out for are the Banks, (when off their highs), BHP, AGL, Coles Myer and Woolies, Wesfarmers, (also once off their highs). In fact do your research. Old stocks that show good earnings and growth potential and are embracing the "NEW" technology advances, would be good buying for the longer term.

Be alert for a possible turn around in all markets not too far into the next year.

There is good buying out there, but you have to be selective and your research has to be good and thorough.

Have a great holiday season.