What to do? Been pondering the market a lot this weekend. Earnings warnings period is upon us, INTC downgrade, discussion of slowdown in chips and infrastructure, the Naz going down, etc. Hum....
1.) Well, first thing that comes to my mind is that we expected a bit of a pullback somewhere in September. Should be no surprise. Nothing has changed in that regard other than maybe it coming sooner than some of us expected after Labor Day.
2.) The second thing that comes to mind is to think forward toward year end. Nothing I've studied this weekend has changed my mind from believing that we will run for 5000 at some point before year end. Still a lot of money on the sidelines. Think what will happen when the cash is turned loose.
I hope the Naz holds above 3900. If it doesn't, we may see more of a pullback in here than we thought. It may last on into October before we climb back.
3.) The third thing that comes to mind is my plan. Ya'll know how strongly I feel that everyone should have an investment plan and strategy, with contingencies. The only adjustment I'm going to do to my plan is factor in a contingency if the Naz continues to head down further. Consequently, I'll be more cautious entering any positions on Monday. If we trend downward and loose support, that will effect entry targets and timing. If we do tread water in here until October, there will be plenty of time to enter positions to still capture a run to 5000.
Patience.....
4.) The fourth thing that I'm telling myself now is STAY ON TARGET. I have my plan. Stay with it. If the Naz heads down, one can't get shaken and scared. Stay disciplined. Be smart and execute your plan.
Those are some thoughts going through my head as I get ready for tomorrow. I'll be out of town a lot this week, so won't be able to watch the market as much as usual. Ya'll kick its butt, ok.
Hang in there. Seize those opportunities. Have the guts to step up the plate and do something about it. At the end of this week, be able to look back and think you did something positive with your life plan.
One last thing.... stay off margin. Get debt free. Now that is a good life goal.
I hope everyone has a super week.
Take care all.
RR |
