To my way of thinking, until shown to be otherwise, I would think that today would be the day. The day for what?
The markets have staged a recovery of sorts, pretty much right up to a place deemed to be a resistance level, and it will now wait and hover about this point until the Fed minutes are released, I’m supposing. At that time, there might be a reaction, which might either commence to take us back down, or perhaps, rather, to breakout through the level of resistance and to rally some more.
I don’t care which it might be really. Though my preference would be for a whole new leg down, so as to accumulate more shares again… which is what I had been thinking would be the real scenario to play out in this circumstance, as history has demonstrated each time in the past, when such a smash has occurred.
It really doesn’t matter what happens, as far as I am concerned, because I will be a buyer again whenever another market decline should set in and I am able to measure what I believe is a real good wringing-out of the risk that exists in the market, and by those measures, I perceive it to be relatively high at this time, and I don’t want to deploy my cash into this current market environment.
What are you wanting to do? I’m sitting for now, and maybe for some number of weeks more.
A mid-day update… the market is, right now, as I am writing, bumping its head against the resistance ceiling. The tension is greatly building against or concerning what is going to be coming out of the Fed. This could get exciting. So glad all I’m doing is watching to see what happens… I’m IN if it rises, and have cash awaiting, if it should commence back down. As a long-term, buy-to-hold investor, it’s a great place to be, and very comfortable! Are you, I certainly hope so.
Here’s to your successful investing!
Harold F Crowell