General Business: The Market Drop
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Damn, market dropped 3% today.
My whole portfolio minus 1 or 2 stocks is red for today. Suck...
So... buying opportunity or "OH SNIZZAP"?
I say buying opportunity.
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Yeah I say buying opportunity as well. What do you think? One more day of solid pull back and then a gradual return? It's really hard to say right now.
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Well, we didn't take a beating like the Chinese, their market fell 8.8%
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Depends on how rattled everyone is. I'm going to wait and see what some analysts say. I'm sitting on a little bit of cash that I could throw in, but want to make sure we are at the bottom. Hate to invest tomorrow and have it drop another 3%.
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I have a hard time believing that 3% was as bad as it gets considering how insane the growth has been. I'd be cautious.
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I'm not sold it's a buying opportunity yet - the runup's been too large. I've blogged about it here.
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Profited big time from the drop :)
I'm pretty sure this isn't the end of it though... slight reversal today then a further drop towards the end of the week.
I took the profits and ran today so am not in a trade right now, but will be looking to short again at some point in the next 24 hours.
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TSX dropped 2.7% as well. China hurt everyone.
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