Those who sold out in Tuesday's panic, are most likely kicking themselves right now in light of the gains posted by the Australian share market in the last two days, with the All Ordinaries finishing 2.9% higher at 5605.08.
In contrast, those investors who bought shares would be smiling. The buyers seem to have been ignored by reports – but praise is due for the gutsy calls made with the market enveloped in a sea of red, and double digit losses.
However, the turmoil is not over, according to an ABC report.
Veteran broker Michael Heffernan from Austock Securities told the ABC he remains optimistic about medium-term investing in the share market, but he says it's going to be a bumpy ride in the short term.
"Clearly this is quite a severe one, given the fact that in the space of Monday and Tuesday this week, we declined actually 10 per cent, which is almost unprecedented in my experience in a two-day jolt for the market," he said.
The share market finished in the positive following the upbeat lead from US stock market, which has done a U-turn after the Fed slashed interest rates by a three quarters of a percent, and news of bond insurer bailouts calmed a nervous financial sector.
Gains were made across the board today, with most S&P indices finishing in a range of 1.8% to 2.8%.
The benchmark S&P/ASX 200 Index, added 168 points to close at 5580.40
The big miners made gains, with BHP Billiton rising 93 cents to $34.82 and Rio Tinto finishing $2.46 up at $108.47.
Financial sector also followed closely, with the big four finding positive ground. ANZ rose 80 cents to $26.02, Westpac added 38 cents to $25.60, Commonwealth Bank of Australia grew 88 cents to $50.75 and National Australia Bank closed $1.34 higher at $33.75.
