Afternoon trading March 20

Thanks @shovel40, @mirren, @Fiji1 and morning crew.

A nervy morning as investors try to work out whether the Credit Suisse forced sale is positive news (Banking crisis over!) or bad (Bondholders wiped out! Shareholders smashed! Panic sell = things are worse than we thought!) Market also mulling a coordinated central bank liquidity operation announced this morning. The market seemed to warm to the announcements, only to fall away again as US futures trimmed their advance. S&P 500 futures are currently +0.42%. EU futures also up. Asian markets mixed. Jury still out. The ASX is hedging its bets by falling, but not by as much as pre-market futures implied.

Personal trading: Missed one of the bounce trades of the year by not buying QAL when it was down 20%+. Spent too much time shouting "Why? Why?" and by the time I decided there was no why, the opportunity was gone. Took a small position in ADH when the post-dividend selldown looked moderately overdone.Too cautious on others.