PSEi plunges to 8-year low!
Time to panic!!!
Hahaha. I’m just kidding. Keep calm.
Here are the headlines I saw after trading hours kanina.
A newbie reading news like these would probably panic especially if a great amount of their life savings is invested on stocks.
I put the blame on what happened to our market sa Finance Head ng bansa natin at PSE. Given na ang pandemic but they have made some pretty stupid decisions as of late. Here is a blog few hours bago maangyare ang grabe na pagbagsak ng index natin. Read this to have an insight of what had had happen.
Sobrang layo mag isip ng ibang market compared sa namumuno sa atin. Take NYSE for example. May dalawang nagpositive na mismo sa corona sa employee nila. Instead e shorten ang trading hours or totally e shutdown ang market all they did was closed down the trading floor and go fully electronic.
NYSE knows na investors’ confidence will diminish once e shutdown nila operations nila. Ma lock up pera ng investor and they will opt to selling once magresume sila. Sa atin wala pang naging positive sa corona among employees ng PSE nagshutdown na ang market natin and to make things worse bigla nila narealize na mali ginawa nila kaya binuksan nila ang market so massive sell-off nangyare.
Look at this:
2.4 Billion ang selling ng foreign thats 3 times bago isara ng PSE ang market natin.
As a trader i look at the chart and I thing the sell-off was say too fast and way too big na magkakaroon ng bounce mamaya either totoong bounce or intraday bounce.
I plan to sit out. I plan to not trade this friday but I think I will doone or two trades just to get in on some of the bounce then out na ako. I made a good profit kahapon kaya I can afford to relax a little bit. Here are some of my trades kahapon.
The funniest thing ngayon sa market is that most of these “gurus” who have no idea how to deal with what is happening right now sa market dahil they lack experience would probably try to tell you about risk anagement. “Proper risk management dapat.” Duh– that ship sailed a long time ago. If di ka nakapagcut noon pa bago maging 50% losses mo then cutting your losses now won’t make you smart. Well, you will learn by experiencing this market. This will make you a better trader if you survived this one. What doesn’t kill you only makes you stronger.
Here is an advice that you will probably ignore:
Don’t panic. Have no opinion. Trade what you see. I may see the market making a little bounce or an intra day bounce this friday bago ang tuluyang sell-off ng foreign/insti by next week but I will still trade what I see. Opinions, analysis at predictions are often wrong pero si market lagi yang tama. let the market do what it wants to do and just trade na naaayon sa galaw ng merkado. Words of wisdom ko yan hahaha. Here some words of wisdom na I have gathered throughout the years.
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