Tuesday, February 27, 2007

That was brutal and there was nothing we could do

though it has been expected...for a while now.
Hope most of you were hedged one way or another, but even then I don't think there was anyone 100% short and it was not a good day to have long positions. Even though most of my long positions were at the green zone and I had stop losses limit orders in place - that did not help quite well - 1/2 of orders did not fire due to down volume - "limit" did not do the job today :)

Tomorrow going to be another day - don't rush into market, don't add to long positions on "dips", don't blame yourselves if market will move up after you did not buy - we will wait for a trend, now - it is most likely will be down, but not straight down, close long positions ( except may be for few most defensive ), add to (QID) on any recovery efforts ( do it in small batches - we still do not have established trend - no matter what "they" say)
Don't be a hero - I hope you were not, NOT TODAY
Good luck