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Tuesday 22 January 2008

What to do at the open of a stock market crash?

DO you wait it out? Cut your losses like me? Or average in?

Lesson be learned.....you don't want to make the same mistakes I did.

I got out of my long futures position when YM was down 300pts, it is now down 650pts and still going down and the market hasn't even opened for US investors!!

I may look stupid for holding my position so long, but I look less stupid now, with the trade down 2x as much from where I sold it.

What do you do today?

Do you short Solars and Financials?

How about shorting NYX and the brokers? Who's going to be left holding all these worthless stock certificates when the market tanks? JPM, GS, BAC, MS, C, LEH, NDAQ.

Remember BAC earnings tomorrow at the bell.....And never count out the surprise FED cut!

Spreads are going to be huge, and I predict YM to have 10-30pts swings every few seconds. The market is going down.

THIS IS A STOCK MARKET CRASH!!!

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