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To: Suma who wrote (103123)8/8/2011 4:13:04 PM
From: Dale BakerRead Replies (3) | Respond to of 118717
 
Anyone playing with a lot of options in a market like this is just asking to be wiped out. I started the day more than 50% in cash and still ended down 5%, thanks in part to some foreign stuff that hadn't printed in a while but still, this was a very nasty day. I know others with more concentrated portfolios who came out worse.

Now almost 60% cash here and staying firmly in my bunker until the world makes sense again. As far as I am concerned, it is 2008 again, and I will act accordingly.



To: Suma who wrote (103123)8/8/2011 5:55:01 PM
From: epicureRead Replies (3) | Respond to of 118717
 
There are selling opportunities and buying opportunities. Today was probably a buying opportunity- though no one can know that for sure. I think it's a mistake to ever go all in within the space of a few days. But on the other hand, folks who guess right make fortunes. The folks who guess wrong rarely want to brag about what happened to them.


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