Market is down after my last post: feels like a bottom. It might slide even more. But I don't see big downside from here. That is, if our wise leaders, in US and EU, will not push us into next step of Great Depression 2.0. If everybody is going to push austerity, economies of the world will continue contracting. And contracting. And contracting. Some people may argue that in 19th century such contractions stopped sooner or later. Right. The structure of economies was much simpler then and any contractions ended at the point when people couldn't cut their expenses anymore (everybody has to eat, have at least some clothes and live somewhere). In current economies, there is much more room for contraction.
Anyway, I don't think it's going to go that far. That's why I added to my portfolio today: added to position in Red Hat (RHT).
Disclosure: I am long RHT.
Additional disclosure: Positions can change any time.
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