Ouch, ouch!
My "buy the dip" software SAAS stocks are taking a big hit today, anywhere from 7-18% down. Service Now (NOW) reported earnings yesterday that disappointed. I'm underwater on all my software "buy the dip" stocks, but I'm not going to panic sell at this point. I think their devastation by AI is over exaggerated and they will recover, although it may take longer than I expected. I'm HODLing at this time.
In the past, I would not have been so calm with this level of volatility. I would have high anxiety. This time, I waiting out the volatility and not getting worried, for a few reasons. First, we don't have significant funds invested in these stocks. Second, our accounts are still producing income for our monthly retirement paycheck. Third, I still expect these purchases will profitable in the future.
After this round of "buy the dip," I'm going to avoid buying any new stocks on a dip, though I may still trade these stocks. That way, I limit the number of individual stocks I need to watch, as I sell off these buy the dip stocks for a profit, hopefully. It's taking more time and effort than I intended to manage these "buy the dip" stock purchases.
If I were in my 20s now, I would primarily invest in mainly total market index funds since I expect these index funds to go up over the longer term. I wish I had that confidence when I was 20 something, instead of starting to have it now that I'm retired.
This is not financial nor stock investment advice. Please consult a professional advisor.
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