Massive sell-off

This AM, I sold off my TSE because of prolonged poor performance, with bad news after bad news.  But the real reason for selling it off today is its fall is smaller than others.  So I used the opportunity to top up my holdings in WPL, OSH and SXY.  And then in the late afternoon, I notice I collected a small parcel of ANZ too.  Sometimes, I like to round up my holdings.

WPL had such a good announcement yesterday and its shares are cum dividend.

OSH is having some problem in PNG but it has a bright future with oil being discovered in Kurdistan, Iraq.

But SXY was also sold off by the market, slightly, because of sentiment.  It didn't drop as much because it found a lot of gas in Cooper Basin.  So I topped up.


The sell-off has been huge today following Wall Street example.  But why pick on one bit of news from the Feds and put so much weight on it?  Perhaps I don't understand how judgment is made by these financial wizards.

I heard on the radio this AM that huge amount of fees have been ripped off superannuation funds by administrators.  Well, I saved a huge amount last year when I stopped using Citibank.  There was very little service and my fund didn't perform better than average.