Any bulls on here? Well? Do I hear a little whimpy bull in the background? Oh come on, Troops!
Little red today, huh. Ouch. Yep, ouch.
Well, as I was pondering my net worth going down, I had to slap myself with a reality check that my positions are not based on today but months from now. That's why I like options 4-6 months out. Then I realized I was doing what so many of us do and that is get wrapped up in the minute to minute or hour to hour status of the market, how much red there is on the screen, what it's doing to my net worth, and so forth. Watching the screen on days like today is agonizing if you let it be. But, unless there is warranted reason, like margin calls, your options expiring next week, something like that, then stop watching that darn screen and wringing your hands.
Yet, I caught myself doing that today in between meetings.....
So what has changed? Nothing. I still think the Naz will come back with a fine return by year end. I have not heard anything that makes me think differently. So, why should I sit there today and wring my hands? Well, I shouldn't of course. I'd suggest that we all keep things in perspective this weekend with regard to the market. There has been a lot of discussion on the Porch for weeks anticipating a dip in here and maybe a bigger one in late Sept or Oct, so why should we be surprised by the red we see on the screen today. And then again, the Naz did have a good Aug.
Anyway, just a few words to say I'm not worried gang. If it pulls back more, I buy more. I'd highly recommend that everyone do their homework this weekend and get your orders ready. Pick ya some quality techs and execute.
Let's have a super weekend and get ready to step up to the plate and beat this market next week. Don't let fear get to ya and don't let the market manage you.... you manage it. Control emotions and fear in your investment decisions and you'll win in the long run.
RR |
