Through Thursday this week, 90% of my buy the dip stocks went up, and sometimes by a lot. Many of my long term "loser" stocks in a separate account also went up this week, with a few becoming profitable, which I quickly sold for small profit.
This week was exciting, enjoyable and very low anxiety. However, although I felt brilliant, I know the results were too good to be true. It really is just a great, outstanding, maybe even once in a lifetime bull market. It works until it doesn't, which is why I'm sticking to my plan, and avoiding being greedy.
Here's the plan I'm continuing:
- Build and maintain a "retirement paycheck" through dividends from stocks and interest from fixed income.
- Simplify stock holdings by reducing individual stock holding and increasing broad market fund holdings. Sell some positions for tax loss harvesting.
- Continue to hodl "buy the dip" SAAS stock with a target until midterms.
- Stop buying stocks during a market dip.
- Scale into high interest rate treasuries on bond mutual funds since interest rates may go up.
Most of all avoid being greedy when selling stocks. I kept this in mind as I reduced our stock holdings; I did not try to extract the last cent from selling. Sell, simply and feel good is my new mantra when simplifying.
Edit: My positions held up until Friday's close. Woohoo!
This is not financial, stock investment, stock selling nor fixed income advice. Please consult a professional advisor.
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