Well well -
How interesting that the futures looked so dire around the beginning of the last hour of trading -
Problem is if you didn't sell positions - you are in fact hoping - that is never a good strategy -
It is not ok to come out and say look now it 's green - we were right - think instead of the alternative -that it was looking like a continued huge selloff in the morning - then more plunging.... What then?
Bigger losses - is what.
Plus the futures will swing all night - want to stay up and sweat?
The point I want to make is that it was risky to bet guess or hope-
I am not bearish by nature - but I know when to pack up and watch from the safety of having my cash under my mattress-
So what do you lose from selling out ? a bit of brokerage- usually you can always find a new entry to your much loved stocks -
Or you might just be free to take the opportunity if it presents in the morning -
I always have a concern that this situation may cause stagnation and lack of interest for new buyers - Usually when everything settles nothing happens - or we can have a dead cat bounce and continue lower- that can be another lesson---
So all that holding is really in my opinion not worth the stress...or time.
I am also speaking for myself and from a daytrading perspective - afterall that is what this thread is about -
There were a few Kamikazes that trade rain hail or shine - I had to giggle - now you all should know that there are a few that are still trading no matter what -hats off to them - very funny and cool LOL--
It is risky business - But you know what -they take the risk and might catch the bounce - they are used to the scariness - that is where they make good money or eat soup --
For anyone new it is a great experience to watch and learn what happens -
Some things lost a lot some held their price - now is the time to get looking get your FA hat on and so some homework - this situation exposes the good stuff -
I hate seeing people stuck in trades and have to watch everyone else catching the bounce -
Just hope that you all survive the turbulence and get in a position to be able to stay in the game
