Monday is the exception to the general rule: if London catches a cold then America sneezes; the FTSE is still heading down and so the American markets will probably follow suit when they wake. And we’re all catching the virus because of the Asian sell off.

This weekend I got scared. I try not to let things influence me but who can not read the papers, right? I figured this to be a minor correction with a chance to make some money on the up-curve but it’s beginning to look like a more significant drop. What began to look cheap on Friday is now beginning to look [still] overpriced.

But you have to be careful of hype. Best approach is to wait and see until tomorrow. Why buy today when prices could be lower tomorrow? Also, with this volatility, it might be wise to wait two days. Sure, you could take a risk and try to catch the bottom of an up-curve, but with no one knowing what’s really going on, that’d just be stupid. NO EMOTION. The important thing is the P & L at the end of the day / week / month. Sometimes the P is maximised by just not doing anything. Further, a bad investment robs funds for better investments later.

Result: lowering my limit orders. Seeing red in all the charts. Best option today: turn the computers off and try and get laid.

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