China’s blowing up… our pre-openers are off. Don’t look now, but… they’re down by between 2 and 3 full percent. This nearly qualifies as a crash scenario!
This should also be that push downward that sets up the opportunity I’ve been referring to for the past couple of days.
This needs to be watched closely. Should it commence to go into a free-fall, that can be bought! If the decline is orderly, then we need to begin to take note of the indicators, and one eye on… the August and September’s LOWS. They need to hold… if they don’t, real panic will set in, and the opportunity outcome from that will be enormous, and it will last for quite a while!
I was there in ’87 for the Black Monday 22% one-day plunge. That began with a number of hard down days, the week before, like this is almost beginning to take the shape of. Let’s keep cool, and watch and wait… this could be a truly great opportunity shaping up!
I’ve been asked, ‘How can you remain so cool and calm?‘ And, the simple answer is: This can only result in the faster growth of my portfolio dividend income. If I buy more shares, at lower prices, I a.) buy them at a higher yield, and b.) can actually accumulate a share, or two, or maybe even a few more, than I would have been able to buy otherwise. Thank about that! This can hasten me to my first-year retirement income goal!!!
More later, perhaps closer to the open… and, if necessary, throughout the day, if it should shape up to be a ‘Big One‘.
Looking at this morning’s action, I would say that it would be possible to step up and do some buying at this point in time… those indicators that I watch, that actually adjust with market action on an intra-day basis, have fallen into those zones I referred to. More conservative and cautious types really ought to wait, to note the very turn taking place first, but 9:35 and 10:12 have already been today’s lows, and a possible potential turn may be taking place now… just don’t go crazy and expend all your ammunition. A little buying here couldn’t seriously hurt you.
Here’s to your successful investing!
Harold F Crowell