GoSeigen wrote:
I've been steadily buying SEP S&P straddles over the past month and now have an uncomfortably large position. If the S&P goes nowhere I'm going to make painful losses on these positions with strikes ranging from 4275 to 4575.
Also been slowly closing some of my leveraged long FTSE stock positions, using the profit to buy stuff that has fallen hard. I think this bull market still has legs so happy to stay bullish.
GS
I'm in a similar boat. I bought heavily in late January thinking the markets didn't have much further to fall. Of course, they have. So I've suffered enormous losses.
Therefore, I'd urge people to be careful. Statements like "buy when there's blood on the streets" sound very machismo - and, dare I say it, Putinesque - but the reality is that we're all talking about our cold hard cash and we shouldn't be taking significant risks (as I stupidly did). If one is a fan of these mantras, then another one we all know is "never try to catch a falling knife".
The situation will be bearish for quite a while to come. To take just one example, locking Russian banks out of the global SWIFT system, as has just been announced in the last few hours, is going to mean energy prices will shoot up even higher, the costs of running many businesses will go up yet further, those businesses will lose income in Russia if they were trading in or with that country, and we will suffer even higher inflation. I hate to say it, but all this is likely to detrimental to the share prices of a fair few of the businesses we're invested into.