I think investors need to take a deep breath and get ready to invest into great ASX shares.
This period, of less than two months, has seen a rapid decline of the S&P/ASX 200 Index (ASX: XJO) and also a fast resurgence. No-one could have predicted either of these large moves.
If you invested when the ASX 200 was under 5,000 then good for you – you're probably already sitting on large paper gains.
Take a deep breath
The share market has been a wild ride. Whether it's the overall ASX 200 and S&P 500. Or you're looking at individual shares like National Australia Bank Ltd (ASX: NAB) and Afterpay Ltd (ASX: APT).
Those huge movements of over 4% day after day seem to have calmed down. Healthcare systems around the world are starting to get in control. Government stimulus is going to start flowing through economies over the next month. The news is more positive than a month ago.
Australian businesses are in good shape to weather this painful downturn. Plenty of companies are doing capital raisings to ensure their balance sheets remain strong.
It's during this period of a lull that we should look over our portfolio as well as potential buys on the watchlist for opportunities. I've named Brickworks Limited (ASX: BKW) and Magellan Global Trust (ASX: MGG) as two shares that are attracting my attention.
Are travel shares like Webjet Limited (ASX: WEB) a buy yet? In my opinion, it depends how brave you are and how optimistic you are that domestic travel will return sooner rather than later.
Get ready to invest
No-one knows what's going to happen next. It's quite likely we're going to see more volatility over the coming months with how momentous everything has been.
Even if share prices don't fall further, they are attractively priced cheaper than they were before. I'm continuing to invest in where I see value. But I also continue to keep some powder dry on the side for if the ASX 200 does drop over 10% from here.
