Tuesday, March 15, 2011

Nuclear crisis in Japan creates bloodbath

I didn't sleep well last night, but I was wide awake when I read today's headlines.
'Nuclear crisis slams stocks in Japan, around world' was a Yahoo Finance-headline and that was no exaggeration. Nikkei down another 10.55% after been whacked 6% the day before. Why doesn't Japan close the market for a couple of days until things cool down a bit?

Other world markets were down 2-4% for major indices. I watched S&P-futures tumble 10 points in half an hour, now trading -35 points since yesterday.

Boy am I glad I sold TZOO and got stopped out of PAG. My shorts should work well today and maybe it's time to take some profits if they fall down hard.
I haven't traded in a bear market before, but I think the safer approach is to stick with the HCPG-newsletter alerts and watch out for some support trades.

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