Börsipäev 10. mai

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  • Tänast börsipäeva alustame teadmisega korralikust miinusest muudel turgudel: Jaapani Nikkei -4,84%, Saksamaa DAX -2,08%, Prantsumaa CAC -1,74%, Suurbritannia FTSE -1,59%.

    Nasdaq futuuride põhjal avanemas -0,82% ja S&P500 -0,64%.

    Gary B. Smith:


    "The season of failure is the best time for sowing the seeds of success." 

    -- Paramahansa Yogananda

    The strong jobs report and Wall Street's reaction Friday is spooking overseas markets. Asian markets were slammed overnight with the Tokyo Nikkei suffering its worst loss since 9/11. European bourses are down across the board. The broad weakness overseas is sending U.S. futures sharply lower to start the week.

    The best advice I can give in this gloomy environment is to not fight the trend. The inclination to try to catch the bottom is keen but it is one of the most dangerous games you can play. The odds of accurately timing a turn in a downtrending market are very low.

    Your goal in this market should be to protect your capital and wait until an uptrend is clearly established. If your style is to knock out some quick trades then play the volatility, but do not be seduced into building longer term positions when the market has the sort of downward momentum we are seeing today.

    Many investors have no problem respecting the upside momentum. They will trade aggressively long when the bulls are running. However, many of these trend followers have a much harder time giving the same degree of respect to downside momentum. They want to fight it and are inclined to think it will end much sooner than upside momentum.

    If you aren't a short player, then you should have been raising cash and moving to the sidelines as the technical damage in this market continued to mount over the past couple weeks. The most dangerous thing you can do is talk yourself into holding on to long positions as the market breaks down. Traditional Wall Street actively encourages investors to hold on to positions in market meltdowns. More often than not that means having to dig yourself out of a much deeper hole than if you did some selling into weakness.

    The very weak open this morning is a good setup for a bounce but don't be fooled by that sort of reversal. Upward spikes and bounces do not constitute trend changes. Strength in this sort of market should be used as opportunities to sell or short.

    It's tough going out there this morning. If you aren't already heavily in cash, don't panic sell but keep an eye out for opportunities to lighten up on some positions. You can always rebuy but you can't resell.

  • NFI dividendi tootlus on küll suurepärane :)

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