[npg]

I remember a similar correction about this time last year...

Could this be a cyclic event? Could this have something to do with results and reports due from the big guys to their clients (profit taking?).

Anyhow. For me certain catalysts I hoped for did not materialize so I jumped off the train and punched my sell orders into the system before market open. After I did, it looked like the positions were about to recover and to my amazement, on my return later this evening I found out that they took a further dive down. A quite considerable dive in fact.

Was I lucky? Deffo!

But then again I forced myself to be disciplined and not hang on to stocks whose catalysts have evaporated and whose indicators showed them to be overbought. I knew I was treading on a thin line with them at current market levels and was happy to trade in a 1% loss in order to preserve previous gains from last year.

Right now is the riskiest period to invest if you read Ben Grahams books. The markets are at all time highs which is the riskiest of moments.

So, even if some of you made some losses, don't be discouraged. Watch the slide and look for broken stocks to scoop up the bargains. Make sure it's not their business which is broken though! Forget the indicators and price level when you want to buy. Make sure you do understand what is going on in the business and what edge the company has over it's competitors. This is far more important than calculating a MOS and watching for arrows popping up somewhere. Make sure you can explain why you want to invest in the company you chose. If you cannot, then don't. This forum is an invaluable tool for talking to like minded people about your stance and to test your thesis before committing your hard earned cash. A post in this forum and a few flames are going to hurt far less than the loss potentially awaiting you if you get your facts wrong.