What we saw yesterday was massive de-leveraging. At least this is my oppinion.
I loaded following stocks:
MFN @ 11 - hey this was market bottom :)
PWE @ 33.70 - current price 33.06, but we will get nice dividend there.
PBR - several buys @ 69.80 - 67.80
With dollar depretiating, and oil and gold go up, I believe those were very good buys. We will see.
I will "de-leverage" some PBR if we see 71.00 next 2-3 days. MFN will lower my expectation too, because now I have bigger possition than I intended to have, but there probably will sell everything at once.
Anyway, the main problem I see is - if sold those, what shall I do with those USD i will get in return? Convert to EUR? No thanks, EUR is same story. May be I will became fan of CHF :-)
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