Dennis, you may be right. I know that my fear level is very high, and I think I am crazy to hold anything right now. I am holding my 401K funds (Merril Lynch Growth, Seligman Communictions & Info, Seligman Global Smaller Companies, Seligman Frontier), and was at least somewhat comforted by comments in Barrons by the manager of Comm & Info that he had already done a lot of selling of the right stocks into the mini-crash.
I sold-off my IRA just in time - twice, and managed to make 15% since the "crash". Sold the day before the "crash" itself, then bought QNTM, CREAF, SUNW, a couple of oil stocks, and JTAX a few days later, and sold them all late last week.
I also sold-off my regular account on both of those days, but am currently holding some CREAF and (dare I admit it?) AAPL. I won't margin right now.
Anyway, it is so obvious that everything is going to hell - and most likely tomorrow - that I suppose the opposite will happen.
I think there's a very high probability that tomorrow will hold as much drama as the mini-crash, but this time we may get the crash and the recovery rolled-into one day. Maybe the best thing is to play Rip Van Winkle, and wake up on Friday... :) |
