Hello Folks,
I am back in action again. Sorry for being absent for a while as had lots of work related stuff to catch on.
My personal take on the current market situation is to keep on holding to whatever you have bought at whatever level it was because:
1) In the intermediate range, the market has an uptrend and the current correction is partly due to selling pressure on institutional investors and partly due to the "herd mentality" as said elegantly by savantji.
2) Also, this is an ideal time to buy. I wish I had some extra funds right now that I could have used, but my entire equity is locked
.
3) In case this causes a spike in your BP and stress levels, seeing almost your entire portfolio in red, I am attaching a snapshot of mine to give you some comfort (there is comfort in knowing that you aren't alone)
. One effective strategy is to perhaps not look at your portfolio every minute in this bearish market, but rather invest this time in knowledge enhancement (I am currently reading "Trading for a living" by Elder Alexander, which is a great book by the way).
About my portfolio, besides AIMCO and BRAWN, two trades that I am quite embarassed about (and hoping to get out as soon as its realistic), I am quite confident about the others. All of them are good scrips, and potential moneymakers. Amen to that thought
I would of course like to hear comments from everyone here about my portfolio.
One lesson I learned and I believe its an important one is to keep at least 30-40 percent of your capital liquid at all times for situations like these when its a great situation for taking positions. Not going to make this mistake again.
All in all, I wish you all good luck and calm nerves
Cheers!
-- Doc J.