Monday, March 2, 2020

Recovering Market

Finally today, I looked at my IRA; about what I feared, but overall, my fund manages appear to have done their jobs of not pankicking.  I think a lot of panic is subsiding as it becomes apparent that this may be a Y2K level of fear.  Fortunately, Trump shut off travel from China 1/31.  It also appears that the various central banks are going to goose the economy to help with recovery.

After Tuesday's disappointing fall (buyers selling their short-term profits from Monday's spectacular rise) today is up 1.9% as buyers take advantage of Tuesday lows.  This sort of kangaroo market is what I expect with panic selling and courageous buying.


Jeff said...

You understand that the market being down is or can be a good thing. Depends on whether you're investing or making necessary sales. I view it as investments being on sale. You know - the "buy low" part. When it's down, I ALWAYS buy more.

Clayton Cramer said...

Jeff: Yes. The time to buy is when everyone else is selling. My mutual funds seem to have bought at the lows. I had to raise some money for repairs on the old house, but those happened as the market started its Monday recovery.

Jeff said...

Timing bummer there. I just plunked about half my annual limit into Roth funds the last week or so. Buying on sale.