Thursday, November 27, 2008

Pull Out

I admit the lost. I pull out all my position on US stock yesterday, with 3.3k USD lost. The reason of pull out is, I am exposing too much money on the most risky region, and most risky sector, financial, which might post a great return (if recover), but might cause a deadly effect, if it collapse. So, I pull out because I can't take the risk.

After selling my Citibank, it continue to soar today, reach USD7.00. But I do not regret, because I cannot take the risk, hence, those who able to take the risk, should experience they gain. I am still bearish on current market. Hence I will create bear call spread.
Ya, it is pain, cut-lost is far far more difficult than profit taking. It need courage. Anyhow, I hope C won't collapse, because a lot of my friend still holding it, some of my friend working at C. Hope this crisis will over faster, and not affect everyone's life.

I will trade on short term credit spread, until I see another opportunity, and this time, I will hold for long run.

1 comment:

lionel319 said...

C selling off some of its Japan sector.

eh fren, can open your blog to public? I can't detect whenever u have an update on your blog ler.