I do not mean that in jest. They’re literally crashing. All of the major European markets are off by 6%.
Cheer up. It’s only paper with ugly green faces on it.
Here is a wrap up of world market trading:
Hang Seng: -5.5%
BSE 30 (India): -7.4%
All Ordinaries: -2.9%
Seoul Composite: -2.95%
Swiss Market: -5.2%
I can only imagine where U.S. markets will open tomorrow. My guess, barring Fed intervention, we gap lower between 4-5%. If so, my first quarter downside targets will be achieved, forcing me to take profits and GO TO CASH.
Notice how I didn’t mention reversing course and trying to play the upside? See, that’s how rookie traders get housed. Plain and simple, if your bias is bearish, go to cash and wait patiently for another high entry point. There is no need to keep your money invested at all times. Actually, it’s absolutely amateur to think you, or anyone else, can time both sides of the market, at all times. Eventually, you will get shot.
Fuck, I know people who do 5 trades per year, and bank more coin than 90% of the retards who manage hedge funds. But that’s their style, not mine.
My point: we’re not in a bull market. The rules that applied then, during the bull, are invalid today. The game has changed. Either you change with it or get eliminated.
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