Now is not the time to panic

[swingstar]

I closed off all my short positions earlier today as soon as they hit my trailing stops. Haven't had a long position for weeks.

I'm staying out of the market and just observing for now. I'm not going to force a trade, but there's a few decent stocks I'm looking at, but just waiting for confirmation of my analysis.

Who wants a beer?

 

[Realist]

http://finance.yahoo.com/columnist/article/richricher/5766

Good article Dennis - I totally agree with it.

 

[pacer]

Well Ok I got on a bit early but my mate the bear emailed me and said ..."Don't panic I'll be back after I have a Quick snooze...see you after the arvo siesta ...haha...hehe......... suckers....Ive've got a bigger stomach than you think....I may start to hibernate a bit after the fed but be weary bears are verry unpredictable creatures ....... Yawn ....... Close to beddy byes but not just yet.

Never turn your back on a bear and especially a bull...Ilearn the hard way ...but still up enough for a 3 week trip to wherever.....

Enjoy it while it lasts......

 

[IGO4IT]

I'm 75% cash at the moment & for the last 2 weeks.

2 points I don't see anyone thinking about:

Time frame of the possible reversal : if correction is over then how long before fear comes out of market (lets not forget those who've been pissing their pants for last 3 weeks & waiting a reversal to sell & break even or will little loss).

Support for the market: Who/what is supporting the market now (that wasn't there yesterday or day before or even last week) & will make sure bears are back buying safely with no concers like before?

I'm holding my cash & willing to pay more later on but I have to get answers from market (thru actions NOT words) before I put my money back in.

For those that think inflation fears is what put us here....CPI figures out tonight in US....good luck for all of us



cheers,

 

[Kipp]

As the late great KP used to say
"Sell when everyone's buying and BUY when everyone's selling".

What I don't like about such a philospohy is that ultimately Share Price is governed by sentiment, rather than results. We've all had our favourite shares run sideways even when they SHOULD be taking off. So until the market consolidates (I mean... for months, not just a few weeks) resource stocks can still tumble while the mums and dads jump ship. As a newbie I say... "Better to miss out on a profit than to realise a loss"