Tuesday, 2 August 2011

I'm poooooooooooor!

Stupid market! It always go down whenever i go on international trips, should've sold everything this time!

In any case, lots of bad signals, the selling hasn't bottomed and only accelerated. Its dropped past most of the support levels, SPY is below its 200 day MVA which is historically very bad sign. While the market may be bottoming, the indicators haven't showned it and is unlikely to really bottom (unless V shaped recovery) for a week or 2 at least.

So sold a few small things that were still up but left most things the same because i was too late to sell. Have some exposure but as bad as can be. Maybe only 40% stock exposure for now.

If optimistic, can start some small cost averaged buys of SPY starting tomorrow but may wait a few more days (unlikely for some news catalyst to give such a quick recovery).

Too risky at the moment to do options.

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