The market is very displeased. Last week was miserable! And, as I write one and one half hours before the 9:30 EST opening, the pre-market trading indicates that the market is currently off at least another one half of one percent.
Don’t get me wrong… I love that! I’ve been waiting since mid-October of last year to become an aggressive buyer of stock again. I’m a patient man, and I am able to wait. O, I did put some cash to work, back earlier in the month, but I didn’t like to… it was because those technical indicators I look to had told me that the market was getting ever so close to giving the kind of low-risk entry signal that I like, but because of ‘good’ Greek news, it reversed to the upside, and the greater threat appeared to be that I might be left standing at the station. That has happened to me before, and it didn’t feel good… so, I bought some stock.
Now, however, it is beginning to look as if we are going to possibly dip into a real market correction, and that’s just what I have been hoping for. Yes, it means that what I presently hold will go down in price, but, as prices get down to where I think market risk has been largely wrung out… that is when I want to add even more shares of our favorite safe-dividend growers.
This is called investing, friends. It’s how it’s really done. It’s how the Pros do it. It’s how Wall Street institutions, managing multiplied billions of dollars, do it.
Don’t be like the amateurs. Don’t be like a chump. These people don’t invest. They trade on hope and fear. They hope when they buy; and they typically hold until fear shakes them out of their holdings… all too often at a price that was lower than they paid for their stocks. Not the pros. Not the real investors! Not me… and I hope, not you!
So, hang in there… I smell opportunity. It’s coming our way. If you are patient, the market will always come to you. It always has, and it always will. It would appear to be what it is doing now… so, let us wait and see, and may we have wisdom enough to recognize it as it is happening. If I do, I will shout it from the housetops right here, and I will be a buyer!
O, and by the way, it will be when things look the very darkest and bleakest, that we will have the very best opportunity to buy. When every feeling of emotion in you is screaming… Don’t do it! Back up the truck, and load up! You will be ever so glad that you did (and, in a relatively short period of time, too!).
Here’s to your successful investing!
Harold F Crowell