I just got off the phone with a friend of mine asking me how I felt during the last financial crisis; the tone of his voice suggested panic and I can understand how a lot of people may feel that way. I received 5 phone calls today; two asking if they should cut losses, two asking where I see the market going in a couple of days, and one asking if it would be a good idea to invest in bonds instead.
I can't exactly tell where the market is going in the next few days. But what I do know is that our macroeconomic numbers seem solid enough. A lot of investors, look towards gains in a matter of days/weeks. I would suggest a more fundamental/long-term approach towards stock trading if you start sweating everytime you turn on the monitor. One way to digest all this is to look for your personal comfort level. It may be the percentage of loss you are willing to take before cutting losses or even buying into more solid companies and just leaving them unmonitored. Whatever it is, take comfort in your trading strategy, one that you've developed for yourself.
It may seem painful enough to have to go through seeing your portfolio turn from green to red at this point but truth is, if it was that easy then everyone who's in the market should be a millionaire by now.
i've been avoiding the property sector since the october rally, but properties seem to have suffered the worst of the correction, so i ended up buying what i don't want. it's difficult but i hope i did the right thing. what do u think, pretzel? nice trading day anyway. hope it's not a dead cat bounce.
ReplyDeletepretzel, are scc and nikl still good buys at these levels or shall i wait a little bit more? tnx.
ReplyDelete@anonymous
ReplyDeleteWell I generally would not purchase anything I have not done my research on. But if your purchase was based on solid facts, I see no problem in going into the property sector. At this point I'm not sure how things will turn out in the short term. I, however, amd still very confident about our market's long terms prospects.
I only have VLL as my property sector play. Aside from that I'm mainly utilities, holdings, and financial.
@anonymous 2
ReplyDeleteI love SCC! I think it has some way to go, but buy when you're comfortable. I wouldn't know when this market will rebound, I hope to accumulate more SCC before then.
I purchased a few NIKL shares during its IPO, I sold it off on the first day and bought some back at 16-ish. I sold my shares to increase my cash position. NIKL, according to some foreign brokers, still has some way to go.