RE: Rich getting richer7 Mar 2022 13:36
General Market sell-off due to current events + major inflationary pressures worldwide are medium term events. Russian invasion of Ukraine is the most significant event right now. History of markets suggest that Markets do recover and sometimes very significantly and quick. Inflation is her to stay for at least the next 12 months or so, but that's just an economic reality. Picking the right stocks for longer term investing is the key to making. I'd suggest that ASOS is one of these stocks, although I don't see it hitting or even getting close to it's £60 high in the next 12-24 months. ASOS is a stock that I have traded successfully before, but not sure now is the time to make any 'Long Term' investment decisions. Wouldn't usually 'Day Trade' ASOS, but I did today as I consider the 'drop' this morning to be a bit of a panic sell. Happy enough to pick up a 6% return on a few hours trade. Will start to build up a longer term position on ASOS on any major intra-day drops.