Title: Depression about the ills of the nation Source:
self URL Source:http://libertyflame Published:Apr 1, 2020 Author:buckeroo Post Date:2020-04-01 20:56:54 by buckeroo Keywords:None Views:656 Comments:3
As strange as it may appear, my fortunes in equities have been diminished to about twenty years ago.
I have realized that I continue to hold: I do not sell or do not buy. I recommend the same for all.
I saw a drop on Friday-02/21/20. I bought the dip and added to selected stocks in my portfolio that had moved down.
Then I saw another drop on Monday-02/24/20. I thought I was a wizard and bought the dip and added to selected stocks in my portfolio that had moved down.
On Tuesday-02/25/20, I thought I was a genius and bought the dip and added to selected stocks in my portfolio that had moved down.
Then as I was watching the futures here at 0400 on Wednesday-02/26/20 [as I do every morning to begin research for the upcoming trading day], I looked at the futures and thought – Oh Shit – And began an immediate sell of all my holdings at market opening. I finished selling all later that morning.
I did nothing on Thursday-02/27/20 and still owned no stocks at the close of business day.
It was during that day I thought – You stupid idiot, you have done this twice before during your many years of trading and it took you a long time to recover. So I began buying back in on Friday-02/28/20 with only $2K in the first stock to dollar cost average whichever way the market moved.
As of COB today, I am 8.22 % off my 01/92/20 high with only 42.5% reinvested during these crazy market swings while I am continuing to dollar cost average – and holding the remainder in reserve to buy stocks I am now holding when they drop at least 6% or more in one day. I plan to continue this until I am once again fully invested and then see what happens.
Had I not taken this action I would have been like Bucky – 40 to 50 percent down with:
Depression about the ills of the nation.
I feel for Bucky, I really hate to see anyone lose money in the market. But his situation is of his own making.
The advice he gives now is sound for those who have stayed in like he did. There is no other choice but to ride it out.
But if one has any reserve cash – I can see where this might be a time to slowly dollar cost and buy some stocks. I predict there will be more downs and ups but that is what dollar cost averaging is all about.
I remember the following exchange and had a laugh when I looked it up. I will share …
Financial/Investment News and Comments. #46. To: buckeroo (#38) I tried to tell you. You didn’t listen. Gatlin posted on 2018-02-12 12:11:16 ET Reply Trace Private Reply #47. To: Gatlin (#46) You didn’t listen. Of course. You are an annoying idiot obsessed with your own reflection. buckeroo posted on 2018-02-12 16:25:46 ET Reply Trace Private Reply
