Market giving good prices

Lately the sharemarket in Australia has been performing poorly. In May 2007, when I started investing the level was around 6400. 3 months later, the level was around 5500. 2 weeks later, the value was 6800. Fast forward 2 months later and we're at 6300. This is how rocky and curvy the sharemarket is. Is it a good time to be buying shares now?

One thing I am glad is that I have been continuously doing reading the last few weeks and with that alot of knowledge I have gained. Perhaps I could channel it to materialise it as profits. I have already made a stand, with a commodity. As for stocks, still looking for those with strong brands and consumer awareness. Perhaps Australia doesn't have that sort of stocks compared with elsewhere in the world.

Note to consider, why invest in Australia when investing overseas provides higher returns? One answer: because Australian companies have the benefit of imputation for individual local investors. So tax-wise we are advantaged. The overall answer: maybe its not good to invest in Australia.