Fam Wencong, Kenneth

My Diary

Closing My Positions

Published: Monday, March 2, 2020

It was a hellish week for stocks last week with the S&P 500 losing more than 10% due to the coronavirus. The closing week was reported as the worst week since the 2008 financial meltdown. I will be closing my CFDs at a loss. My leveraged portfolio is down about 50%; losing a capital sum of US$1,000.

The following 2 points indicate to me my timing is bad. (1) How long the coronavirus will affect markets. (2) What will be the impact on the global economy? I will be sitting out of short term trading/investing.