Market Down 2% to 3% on average volume....

Market retraced for three days in a row.....

The reaction from so called experts are that "it is the end of the rally" and we are going "way down"...

Some are claiming to have sold all their long position and they are short short & more short all the way......starting today???

WOW.....

That is the-most undesirable approach in investing world......NO long position???

One should "never be out of the market completely" as championed by Peter Lynch..who was the-most successful investor in the 80's & early 90's.....BUT he was a fundamental investor who KNEW WHY he bought his position in many stocks.....

SO...

We have "fear monger screaming again & think they are making sense"...i beg to disagree completely with their strategy & their hysteria that this rally is over?????

I personally believe it IS one of the-best environment for stock-picking as the price gets CHEAPER....I can assure you that price has retraced completely in some & mostly in others....thus a perfect time to feel CONFIDENT in keeping your position if you have any or to add if you CAN......

In my portfolio :

Sold OTEX.....

Bought TLM.....

Portfolio is EGLE,MPEL,PMCS,PALM,TLM......

VIX closed @ 33.65....still close to the recent LOW level......

AH Futures are as follows :

Dow UP 39.11

S&P 500 UP 3.68

Nasdaq UP 4.57

I guess futures must not know that it is suppose to be deep RED as per CNBC pundits????

Thanks to Madmax,Michael & Victor for their messages on my big day !!!!

BLOG does NOT give buy or sell.

Saleem