Of course they have been saying the same thing for the last year every time the market has a really bad day.
Yeah wouldn't have wanted to pull your money out a year ago and miss this great action.
( -20% on the blue chips!!)
They also say that it is these times when buying opportunities arise. They don't explain how to take advantage of these opportunities if you hadn't yanked your money out in the first place.
We saw it coming and went to cash long ago.
Anyway it was a very exciting day today. Once again you guys are getting the crash course these last few months. (Pun intended).
Puts are working out beautifully. Took some profits today but looks like there is still some room to go here.
Sure you buy when there is blood in the streets, but this is still a time where cash is king. Leave the falling knives alone, you will get cut. We will know when it is time to buy and your patience will be rewarded.
In the meantime stay short if at all. Limit exposure. Remember our motto "Want what the market wants"
Peter
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