Here is my humble thought

I was traveling in Arizona and just came back. Indeed, it was a bad day; however, I usually don't react to these one-day drops at all. The panics I typically wait for are months long, very painful, seemingly endless, market declines, like the one in mid-August.

There is really nothing new (no new news) in this market today. The bad earnings from WB, CAT, BAC etc are merely the consequences of the previous bad news (subprime, housing slump), but not the new cause. So I won't worry too much. Market just needs an excuse for the 20th anniversary of 87's crash....

As for oil stocks, I won't add to my portfolio at this level as I mentioned in previous posts. Oil stocks had a huge run in last 3-4 years (since I bought them). They are not cheap now. That said, if you don't have any oil exposure and you are worried about the dollar devaluation, you can gradually add some COP or ECA or whatever to hedge the dollar decline (since 70% of oils are traded with US dollar).

I don't follow Brazil stocks, so I have no opinion on EWZ.

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• very good opinion and suggestion, thanks -左右为难a- ♂ (278 bytes) () 10/19/2007 postreply 16:44:06