Hello Troops: What if? And, what are you going to do about it, hum?
A bit less than 85 trading days left in the year. Lots is going to happen. Are you ready?
A lot of you are anxious. Lots of talk about the market coming back and when. Lot of you are scared and trying to come back after getting kicked in the teeth by QCOM.
So, what are you going to do about it?
Well, how about stepping up to the plate and doing something about it.
What if tomorrow the Naz sells off. What are you going to do about it? Likely to be some profit taking in here. End of month, 3 day weekend, etc. This may present an opportunity to enter some positions that will get you on the road to recover for the year end run many of us think will happen.
What if the Naz goes down 100 points tomorrow towards the end of the day, everyone runs for cover, lots of red on the screen. Will you buy? If not, why not?
Lots of times when the weenies sell on Friday going into cash for the weekend, that's when I'm like a catfish and bottom feed. I'll place low ball offers that sit below the bid all day, then hit in the last few minutes of the day. Yes, it is hard to execute in the final minutes going into a 3 day weekend when a lot of others have gone to cash, but that is when you can get some deals.
Ya'll are probably sick of hearing me say over and over to get you a plan, find one that fits your style, stick with it, become a disciplined investor, stay off margin, and execute the plan. It is imperative that you have the courage to do so. You can't have a good plan then sit there on your butt and not execute it.
Some of the discussion on the Porch today was really good. Discussions about certain positions, folks watching, some executing, some electing some patience but still getting ready to execute at a certain level. That is great. That's what it takes.
So, I would like to challenge everyone on here to study tonight. Do your homework. Pick some positions for possible entry at the points you want, so that you will be ready to execute tomorrow. And that goes for next week as well.
If you're one of those recovering from getting whacked by QCOM, like I know many of you are, then it's time to move on and rebuild little by little. Remember I am a believer in taking small profits over and over and over again until stinking wealthy. It can be done. You can build back wealth that way. You don't have to let it all hang out, this is not gambling. It's investing. You don't have to go for the home run every time and you are not a failure if you make a few hundred bucks here and there instead of thousands. Those hundreds add up.
At some point I still think the market will run to 5000. I am excited. I see another super year end run. Don't miss it. Have the guts to step out there and do something about it.
Generally, I have a plan for every day. Yes, each day. Every night I do my "What if" and "What are you going to do about it" scenario. Yeah, it's work and takes time, but doing so has sure helped me over the years. Hard work pays off. Having a plan like that helps in execution. Ya'll have heard me say that until you're sick of it probably. But, when it's time to execute, I don't expect to be sitting there wringing my hands second guessing. That's where having well thought out plans helps get you prepared.
Just wanted to pass some personal comments along. Been awhile since I've done so. I'm not meaning to lecture, please don't take it that way. These are some of my beliefs that have helped me personally to achieve what I think is smart and successful investing. Like I said earlier, there's only about 80-85 trading days left in the year. I am excited about the opportunities ahead. I may be flat wrong but I believe we will see Naz 5000 by year end. So, get ready.
So, what if the market goes red tomorrow? Sells off? What are you going to do about it? Anything? What's your plan?
Lastly, as ya'll heard me say before. Be smart, be aggressive but have patience, make the market come to you, and then have the guts to step out there and execute! Lots of opportunities out there. Seize them!
Good luck all. I sincerely wish all my Friends prosperity and especially those that are climbing back. Don't give up. You will prevail.
RR |
