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Friday, May 07, 2010

World War 2 All Over Again

i'm posting this to keep my thoughts pinned. this is probably the first time in a really long while the stock market has me worried. today felt like standing on the edge of a cliff and asking yourself jump or don't jump... while wearing a blindfold...

the dow looks almost as if the computers tested that 200 ema and saw it as a resistance so it reversed that algorithm execution and stopped machine gun sell orders. :lol:

i am on the fence about this market. it's hard to figure out. major up one day then major down the next. it's like 2008's 4th quarter. volatility spikes enough to make your head spin. a market for gamblers. which i am not. never was. i make calculated risks and enter when my downside risk isn't so bad.

anyways i released 30% of my holdings with about 1k php total loss(yes this was an incredibly good exit on a day when hell is supposedly breaking loose). these were mainly stuff i bought yesterday thinking reversal would happen today. :roll: which has me scratching my head all the more. local market nearly ignored what went on in the world last night. it's like we're being oblivious in our own little world where nothing can touch us and only those who are truly "aware" got burned when they sold off early in the morning(which i was trying to do. thank goodness my orders weren't hit during pre open). which leads me to ask... what happens when we all wake up at the same time and realize that the PIIGS contingent are all truly in trouble and will end up defaulting? i'm not very familiar with how the euro block runs the show with financial markets. all i remember is they have a penchant for doing nothing in the face of looming disaster. kinda why hitler and his nazi party marched around europe for 6 long years in the first place. everyone pretended hitler didn't exist until his panzers were making loud noises infront of their doorsteps(yeah yeah except for england you history buffs!).

just holding on to long positions now. i'm gonna kick myself if they get hit next week when i could've cashed in on them today. lol