5 August 2011

Wasn’t that a total mess? Don’t take it personally, that’s just how markets are. PSEi closed at 4,437.55, down 63.98 points. I know some people just sold a lot, some have bought a lot, and some were oblivious to the worldwide destruction of market capitalization over the past 24 hours. This is quite an economic phenomenon. It’s quite rare for practically all world markets (stocks, commodities, currencies) to move together in unison (much less this strongly). The big winners today were the US Dollar and US Treasuries. Amazing!

Haha I guess I learned my lesson. I greet my big winners anonymously, and they end up like Deep Fried Kool Aid across the board. Except for US Treasuries, the whole world of financial markets was BBQ’d today. How crazy was that? Hello Hungry Ghosts!

I hope you traded well under the current circumstances. And I hope, whatever your trading system, like myself, you are at the proverbial “sleeping point” and at peace with your exact portfolio composition right now. Like many traders, I wasn’t left unscathed. I feel your pain, it’s part of the game. TGIF, Amigos!

This entry was posted in Philippine Stock Market and tagged , . Bookmark the permalink.

2 Responses to 5 August 2011

  1. noob says:

    who let the dogs out? woof woof woof woof WOOF!

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