If you were wrong yesterday then you were right today as the market gained big on the day. Volatility is the name of the game on a daily basis. Sell off Thursday, up on Friday. SELL OFF Monday, UP on Tuesday, Big drop Wednesday and nice GAINS today with the TSX up 77 points, Oil up and the DOW up 396 points.
How do you keep your head and stay in the market during this type of volatility? What will the market do on Friday?
If I'm investing, I just hold all my positions in my retirement accounts and try not to sweat it. Tariffs and Trump are driving the bus. Oh, wait a minute, now it's Turkey in the news. It has surpassed Iran and Saudi Arabia as the cause of world worry.
I am sure Brexit will soon take the lead and then there's always China and how they will react to a rising currency if the Donald gets his wish. The point is, there is always something to fret about when you live and die on the markets like most of us investors and speculators do. Stay invested and buy quality companies and just ignore the stock market.
"As long as you are invested appropriately for your goals, stay away from your investment portfolio - Warren Buffett 2016.
Doing nothing is often the right thing to do"
Patience Little One
It was just last week I was moaning about missing my buy point for CGX. I was down $249 on the trade after earnings were reported and the stock sank after I bought it.
After the close Thursday CGX was up $153 on my small 130 share purchase. That is quite the reversal in just 5 trading days. Now positive by 3.78%. With it's earnings now in and some upward momentum I will ride this for maybe the next 14 weeks or if I can make 20-25%, if I don't need the money sooner. The stock also yields 5.9% which will allow me some breathing room. I don't buy trading stocks for dividends and don't really care. I am buying for quick capital gains, that's it. The dividend will allow me to be wrong for just a little longer if necessary.
My other trader stock is OTEX. It's flat for me right now but at least it hasn't tanked like most stocks. I really like the tech sector right now to make some gains. We'll see if I can make 20% on OTEX. That's the goal so stay tuned.
Was today just a big dead cat bounce and will markets sell off ahead of the weekend? I hope not but if you were looking to buy stocks why would you want the market to go up.
"Price is what you pay and value is what you get." - Warren Buffett
I NEVER USE MY RETIREMENT MONEY TO TRADE IN AND OUT OF
STOCKS!
You can look at our retirement holdings here.
If you are looking at ways to save money this new book The Cashflow Cookbook can help you find some savings to then use to invest.
If you are having trouble getting your financial house in order and organized then you need to read Worry Free Money.
If you are further looking for portfolio ideas then you might find my review of The 6-Pack Portfolio a way for you to get started on your investing journey. All of our retirement money is invested in this manner. We just hold more than 6 positions.
All 3 of these books written for Canadians by Canadians.
Investing and Saving Ideas You Can Use NOW!
If you are looking at ways to save money this new book The Cashflow Cookbook can help you find some savings to then use to invest.
If you are having trouble getting your financial house in order and organized then you need to read Worry Free Money.
If you are further looking for portfolio ideas then you might find my review of The 6-Pack Portfolio a way for you to get started on your investing journey. All of our retirement money is invested in this manner. We just hold more than 6 positions.
All 3 of these books written for Canadians by Canadians.
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