Monday, February 5, 2018

DO NOT PANIC!

I saw some left wing idiot on Fox making a big point of how Trump tweeted about the rising market for months and had not done so today.

Two days of falling stock market caused by too much good economic news, driving up interest rates. Friday bloodbath did very little harm to my IRA, probably because my mutual finds sold stocks in preparation for buying bonds.

The only downside is that I increase how much I take out of my IRA every $100,000 it goes up.  I thought this was going to be twice in one year.   I guess not.
I have some money from a personal loan coming back to me shortly, so this is a good time to buy more stock mutual funds.

Today, DJIA up >100 points.

2 comments:

Jay Kominek said...

https://twitter.com/patio11/status/960642400833101826

"A plunge in the stock markets is ~3.5% in a month and just means that the future returns of capitalism are available on sale; limited time offer."

Karl said...

Last Thursday, I sold 5 of the 12 options contracts I had in my "goofing around" brokerage account. This recovered the money I had paid for the 12 contracts, plus about $60. Thus insulated from any losses, I decided to let the remaining 7 ride. Even if they crashed and burned, I'd still be slightly ahead.

Today they're more than double what I paid for them, and if I sold now, I'd wind up doubling my overall investment.

I'm going to let them ride a little longer.