NO MERCY!

A good trader is open-minded. A good trader does not fall in love with his stocks. A good trader is quick to buy opportunities and even quicker to cut losses. In times like this, a good trader knows the drill and executes them without emotion, without thinking even. On these, the Rogue Black Spider scored zero. For the past 4 days, I had the chance to cut but did not. Oh, I did cut earlier MBT, ALI and AC but was quick to re-buy them and more, when these plunged further the following day as I mistakenly foresaw a quick profit from their bounces. I was a victim of a dead-cat-splat.

THE PSEi - (6,953.35  -275   -3.96%)

Today, the market lost 275 points equivalent to 3.96%. This is HUGE! Not even the announcement of a better than expected GDP averted the avalanche. As I foolishly decided last week that my investment would be safe in the blues, my portfolio sank with the market. The chart of my portfolio is a replica of the PSEi chart.

BLOODY SPIDER FUND

Temporarily shielded from today's carnage are suspended Lucio Co stocks - COSCO and PGOLD. The other Lucio (Tan) stock - LTG - is somehow spared with just a -0.78%. I do not have any Lucio Co nor Lucio Tan stock. I already sold them last week. 

Tomorrow is Friday, May 31. Window-dressing may kick-in. There could be a slight rebound. Well, just maybe. But, whether it is going to be a green day or another carnage day, the damage of today's plunge is already etched in my memory. The Philippine stock market is capable of inflicting an index loss of 4% in just a day. I will not quit, far from it, but I will be more careful... and fearful. Now, what is that rumor again?