My thought for today:
It's going to be a bloodbath today and we don't know how long it will last. European markets are down 5% across the board, Brazil has just devalued its currency. If I could have one wish today, it would be that nobody on this thread goes long, for any reason. No averaging down, no buying on good news (ie. the LU and ASND merger). Things will be terribly volatile and you could lose everything in your account on a day like today.
Please try not to panic. I'd advise taking any profits you may have made, but NOT selling your losing positions today. Selling at the open today will pretty much guarantee you the lowest price you can sell for. And NO MARKET SELLS! PLEASE!!
Let's spend our day today doing a little learning. Study your T.A., look for a new online broker, follow the posts of some well-respected SI posters by bookmarking them. A few I read regularly are: Last Shadow, Jenna, Tastes Like Chicken, TAFKAI, Ron McKinnon. There are lots more. Can others list SI people they respect?
Let's make it our goal to NOT lose money today, and to learn something we haven't had the time to learn. |
