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Old 10-08-2009, 03:49 PM
Newbie Newbie is offline
Junior Member
 
Join Date: Oct 2009
Location: Toronto, Ontario
Posts: 2
Default Did I do the wrong thing ? pls help

Hi everyone,
I am an anxious newbie here. I panicked last Friday when the TSX went way down and I sold all my equities. Now, I feel foolish that I pulled out far too soon, seeing how the market is going way up this week and continuing upwards today.

Thing is, I got spooked reading all the articles out there, that the market is overbought, the fundamentals are not there to support these prices, that there will be a correction, possibly 20% or as
bad as the March lows etc. So first 2 days of October, I panicked
and sold at a loss, thinking I should just salvage what I've got and minimize my losses. I've been just a buy and hold type for decades, lost 40% of my life savings since the crash and am only trying to read and learn in the past few weeks.

I have a lot to learn yet. In the meantime, would anyone please tell
me if I have made a mega mistake here pulling out last week - I feel
stupid missing out on all the gains I could have made this week, and may be more to come in the next months or so.

What is your sense of things to come ? Do you think there will be a large correction still ? should I get back in at the next dip or just stay on the sidelines until next year when the market direction might be more clear then ?

Please help. I feel quite bad this whole week and very lost. Your comments will be very much appreciated. Thanks.

Anxious newbie
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