Wow. Or should I say yikes?
Recently wrote about the PSEi Red Wedding, and obviously, it’s not yet over.
Was out of town the whole weekend while my internet connection at home was out the past 2 weeks. Anyway, just finished watching World War Z (I liked it and I recommend it) before I finally went home. Did not hear any news so was surprised to see that our PSE is just 1% away from a bearish market.
What should I do?
I really don’t know. By now most of the stock market players maybe in cash already, while sadly I am still fully invested in the stocks I hold. Last Thursday I was 3% down (already recovering from 7% down) and maybe by now I’m back to that territory, or worse.
Well, one thing is for sure. Don’t buy into the market right now. If you’re a newbie investor, you might want to go through this post and don’t invest or gamble yet in the stock market. Wait for the dust to settle. Do not catch falling knives. Let us wait and see for now, and if you have the means, accumulate funds for now for investing later on. The trend is generally downwards and should we hit the bearish territory likely by tomorrow, we might go further down.
Should I Sell?
Personally I’m not selling. I’m convincing myself that I do not need the money yet (which is true) and that my portfolio is meant for my retirement fund (which is roughly 39 years from now). If I sell now, I’ll just realize 5-digit losses so I might as well keep it as paper losses. I don’t have other alternatives anyway. So I’m sticking with my guns for now. Besides, the main reason is panic overseas (ala World War Z?) such as China and the US and not because of deteriorating Philippine conditions.
I’m silently praying that when the times comes that the marker starts to rebound, I have enough ammunition to ride the tide again.
Good luck to us tomorrow.
Disclaimer: I’m not a licensed or titled stocks analyst. And my portfolio is less than 6 digits to date so maybe I’m not that scared. So please trade at your own risk.