I'm itching to buy, but I'm going to wait.
In 2013 (the tape tantrum) and 2016 (worst start to S&P in history), I started buying right away and endured a month of further decline. Then for Brexit and the Trump election, I waited and missed the immediate rebound of 2 days and 6 hours.
I expect this time the decline will be longer and more drawn out for the following reasons:
- The Fed is raising interest rates.
- Trump's honeymoon fading fast. And Trump is running out of items that can be dealt with by executive order.
- Too many stocks are near 52 week lows despite the indices being near all time highs.
- The low bar of expectations for Trump is rising.
- Obamacare repeal and replace proposal disappointingly is really Obamacare tweak and refine.
- And the Fed is raising interest rates.
Hopefully, I will be able to buy low.
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This is not financial advice. Please consult a professional advisor.
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