It's had to be optimistic about the stock market with all the negativity swirling about. However, that's probably the time to tough it out and stay invested.
I have mixed feelings. I believe the market will be significantly higher by year end, no matter what the outcome of the midterms. If the Democrats win, the market will go up; if the Republicans winn, the market will go up. But I believe August will be a volatile month, perhaps even being a down month.
It is a bifurcated stock market, with a lot of rotation. Some stocks are going up, while others are going down, resulting in a slight rise in the indices.
So I will take some profits in advancing stocks (which means they will probably advance further:-) And I will buy some short term beaten down stocks, e.g. Chinese internet stocks, biotechs. I expect that the stock market may be a bit of a roller coaster, and be prepared for slow rises and quick drops.
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This is not financial or investment advice. Please consult a professional advisor.
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