In a matter of 10 days, two friends CPC and ALE liquidated their stock holdings and held on to sweet old cash. It was simply sentiment-driven, you know, the momentum driven action of "sell and ask question" later. There was a huge element of fear of losing profits (or losing more), greed of sell now/ buy at better prices later and some crazed feeling in between all these.
I asked a couple of people at the investment/brokerage houses and most said they were reducing their exposure to the equities in a substantial manner. Most were comfortable taking their money off the market. With all the volatility spanning the global financial market and uncertainty of direction of the local bourse, I guess it was simply too stressful on the brain and taxing on anyone's physique to stock pick and remain calm.
What's the best thing to do now..? That's the question everyone asking.. buy precious metals or bonds or stay in cash..? Well, do something that will assure you a good night rest and sleep.. by this I mean, lean towards cash position till month ends..
In your waiting for the dust to settle, you may opt to dabble in currency option swap which can potentially earns you weekly gain, annualized at 6 to 11 %... Happy investing.