I am truly sorry for your situation. I think it could go to low 30s. I think lower is possible but unlikely. It might not go any lower. It will not reliably rally strongly for a while.
What you should do depends upon your exposure. If you are not on margin and are not a good trader (as it seems quite clear from you post that that is not your orientation), I would do nothing. In six months coms will be higher.
If you you are on margin, I would pay very close attention to the next few days and try to sell some on any up movement. Why? Because if you are within range of a call there is a very real chance that coms will throw you into it.
But don't make the mistake of being underinvested at the bottom. Onc e the market knife stops falling and starts moving back up, get it all in there, go full hog, to recoup. Not all in coms, in a 10 stock or more diversified porfolio of fast movers, w/good near term prosptects.
Add some drillers for example. RDC,ESV,RIG, etc. Add some software. PSFT,MCAF,PMTC,EFII, etc. many others.
Doug |
