I will not buy anything until I dispose what I have and some of them at 40% loss. Many people will be in similar situation. I sold 50% of my portfolio when the downturn started 10 months ago and put them in FD. I will not withdraw that to buy shares since I know market can not sustain growth for long.
REASON: The liquidity is very poor in the market as many big IPOs have drained the market. Just imagine people who bought PLC IPO at 18/= come into action and sell them when the market recover then who has money to buy them. This will again drag the market downwards.
UNLESS:
1) Foreigners invest in big scale
2) Unit Trusts and government institutions buy in big ways
3) Leading corporates invest heavily in CSE
4) HNWI come back to the market
5) SEC gives a break for IPOs and limit them for some time
The market will not move up continuously and any movement will not sustain for long.
This is my personal opinion only.