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The market has it's owm rhythm and goes it's own way.
Today the tide is reversing and no one can stop it.
OCBC investment news letter 31/ 07/06.-sell sell sell into strength STI unlikely to exceed 2517-61.8 % retracement of the downturn -next target 2150 to 2200
hahaha .. u r funny! Yet what you say is true. :)
Your decision was practical.
In my office sits an orchid plant called Phallaenopsis Orchid from hawaii.
Orchid. It just bloomed again yesterday on it's own accord.
The markets like the orchid has it's own rhythm and does not go where you want it to go.
It does its own thing. You can only control the risk you can tolerate
Luck or Timing is all you need but where to find the holy grail?
Somehow comforted by your reply. Yes, reduce position to a comfortable level! thanks ..
You can only control the amount of risk you can tolerate.
You cannot control the direction of the STI from day to day as many factors are at work at any one time.
Never average a losing position which is what you did
The decisions open to you at the moment is to reduce position to a comfortable level.
Selling short a put could be suicidal in case the market collapses in the afternoon as it could as the oil price is climbing because of many adverse factors.
i bought some STI put warrants cos of a possible correction. Didn't cut loss, in fact bought more when price fell. Now bleeding & not sure what to do. What if i sell at low & correction starts? What if i don't sell & there's no correction?
Help?!