When Dow encountered a 998 points plunge last week, it caused the world around to press the panic button. Although it did recover to close down at 347 points, the near thousand nerve wrecking drop shattered Asian sessions the next day.

Looking at the market filled with sea of reds, I breathed a sigh of relief that I do not hold any open position amid the ongoing bearish mood. Else I would be enduring a menacing roller coaster ride now. This would be a good time to conserve ammo until the trend becomes clear.

I must admit that I was tempted to add some positions but managed to resist the “bargain buys”. As one of the mentors always reminded us not to catch a falling knife and cheap can become cheaper. With the current market mood, I will stay away and be contented being a rule follower.