I swear to Buffett I was going to liquidate a largish chunk of my equities this morning, given all the carp that's going on.
But at 9:30 I have to put out out a paperwork fire so I postpone the fire sale.
And wham bam the Dow is up 400 points.
So now do I let price dictate my investment decisions? Now that the market is up a lot do I hold on? or do I still sell, given the higher prices I can get today.
My thesis is still that stocks are unlikely to do well because there's just too much uncertainty in the world. Maybe after the 2020 elections and after brexit smooths out and after the HK rebellion quiets down. But now...just too much uncertainty.
But stocks climb walls of worry and interest rates this low should support stocks. Right? Or not. I don't know. You don't know.
Longer term, it's tough to call and i don't pretend to know.
But this morning I was looking to buy back a little of a triple leveraged tech. ETF i had sold in the last couple of days in a defensive mode, and i just see it too often when the market opens up somewhat but sells off within a half hour of opening. So i was hesitating to buy when i see the damn thing start to take off. I absolutely knew something was up, it was taking off like a rocket, so i entered my market buy as fast as i could. Lucky I did, it was up over 3% above my purchase price within less than a minute.
Sometimes these things just work in your favor. Sometimes not (but that's a different story...)