I lost money, but thank God, I managed to have the presence of mind to cut loss when the trigger hit my criterion. Sometimes upon hindsight, you just thank God that you made that decision, but just a day before, others could be saying, "why did you do that? it was a safe trade!"
Well, I know this much to know that there is no truly safe trade. Especially in last night's market. It was a can of worms opened, and I am sure a lot of folks couldn't have made it out in time. :(
Market trends is still a strong bull movement. Although the Chikou Span has dipped into the historical green cloud. This is an indication that the market might be heading downwards if on Monday the market dips further. For that, we will have to watch what happens over the weekend.
From the looks of the ichimoku charts, I think it will likely be a downward movement until it touches the support of the Kumo (Cloud). Probably a good time to sell a Call Spread next week Monday maybe?
It may not be the end of the world yesterday, but it was like a near end of the world scenario for those who are heavily invested and had to cut loss. Again, Warren Buffett's two golden rules of investments. Rule number 1 capital preservation is most important. And Rule number two is don't forget rule number 1. I suggest we do likewise in a volatile market such as this.
Blessed Christmas and see you all next week! :)
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