Expected a carnage.... however...

I expected a carnage at the local bourse today after the steep sell-off in Wall Street last night, but surprisingly (and fortunately), the decline in today's index was not that bad. I believe that much of the negativity about the world markets are already somewhat priced in. Remember last week, the local index sold even if Wall Street gained. The jitters are due to the downgrade in Greece's credit rating.

All sectors are on the red today but still, there were some stocks that edged up today such as the conglomerate JGS.

Watching the VIX, it was up 30% in one session closing at 22. This may be a good time to look into quality value stocks and snap them up while everyone's dumping. Maintain that cash position as any other prudent investor should do. Take advantage of these dips and wait for the fruits of this time tested strategy.