Wednesday, September 20, 2006
Don't Panic
Bad News = Buying Opportunities
Case in point is this morning's coup in Thailand. As expected, after hearing news of the coup, upon (Singapore) market opening, there was general bloodshed... Traders were selling across the board, STI traded 25 points lower... It was ugly.
So, just like any panic-stricken trader, I sold my shares in AsiaPharm, and took a loss of $150 in my stride. All things considered, not a bad loss (or so I thought). It's now 11.45, less than 3 hours after market open. The stock I sold is now up by one tick, was up by 2 ticks at one point, ie. the person who bought the shares from me has made a $100 profit in less than 3 hours.
Here's a thought. If the stock market operates on a willing buyer - willing seller basis, who is buying when everyone else is selling??
Categories: Bad, News, Buying, Opportunities, coup, Thailand, STI, AsiaPharm, stock, market,
Case in point is this morning's coup in Thailand. As expected, after hearing news of the coup, upon (Singapore) market opening, there was general bloodshed... Traders were selling across the board, STI traded 25 points lower... It was ugly.
So, just like any panic-stricken trader, I sold my shares in AsiaPharm, and took a loss of $150 in my stride. All things considered, not a bad loss (or so I thought). It's now 11.45, less than 3 hours after market open. The stock I sold is now up by one tick, was up by 2 ticks at one point, ie. the person who bought the shares from me has made a $100 profit in less than 3 hours.
Here's a thought. If the stock market operates on a willing buyer - willing seller basis, who is buying when everyone else is selling??
Categories: Bad, News, Buying, Opportunities, coup, Thailand, STI, AsiaPharm, stock, market,
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