Hi all, I want to keep discussion on this topic going as several of us seemed to be getting something out of it, especially from Michael Whyte and his charts. Also I noticed the NavraInvest web site saying the following today, 'The actual returns in September for the Retail and Wholesale funds were +3.57% and +3.6% respectively compared to the +5.13% return of the S&P/ASX200'. I'd be interested to see a chart on this if available Michael... It is also notable that the fund was holding 43% in cash as at the end of Sep. I would like to hear thoughts on the future direction of the Aust share market. Is there value there? How much longer does this bull market have to run. FYI I see the market is trading off a forward P/E of 14.6. Regards, Mark Leo.