Sunday, June 17, 2012

What Overexcitement Did to My Portfolio - Post Greek Elections

I'm feeling risky today.

Even though stock market news pages abound with good tidings about the Greek government, I believe the markets will continue to be volatile. The new government does not mean total salvation for Greece and Europe, but a stepping stone up the hard austerity ladder.

Garnering only ~30% of the votes, the New Democratic party will most probably be the new Greek government. But with a very slim advantage, the party should expect a rough road ahead. A request for a recount or civil violence may be on the list of things to lookout for. In any case, the world's eyes are on Greece, and while Greece's story unfolds, we standby guessing what the next possible scenario will look like.

I'm feeling risky today (because I had a very lively weekend ;) and I need to experience what it's like to trade post-elections). Early this morning, I bought MEG at Php1.97 - a property stock. I will have to drink calming milk later because the property sector in the Phils is the most volatile, and MEG is one of the most actively traded stocks listed. I probably got over excited and may pay for the repercussions of my overexcitement.

If I lose money later on I'll probably just say, "hey, I was high on Greek that's why."

-I hope somebody out there buys a new condominium unit.-

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