A little "mini panic" selling in Telstra today ??....it appeared to be a lot less buyers than sellers.
It hit 3.14 briefly and getting close to recent 3.13 low and RSI dip below 50.
Chinese and DOW have rattled traders and taking defensive action is wise as we don't know if this sell off in global market will trigger a correction.
I will hold my Telstra but we should not live in a fantasy land believing any stock is safe from panic selling in the event of market correction so managing risk will become more important.
Looking into buying puts in Index to protect my long and looking into shorting the market now.
Interesting to see what price Telstra will close today, will it be close to the low of today or high of the day ?? I don't know the answer and can not see the future.
TLS Price at posting:
$3.18 Sentiment: Buy Disclosure: Held
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