If I finally get my shorts cashed I'm going to put it away for my Panic Fund- always good to have some liquidity if the world ever feels like it is coming to an end.
Some precious metals might be in order someday for part of that, but no compelling reason right now.
We had 8 years where most here not too secretly hoped for a crash on the Kenyan Socialist Muslim's watch or at least just grumbled incessantly about the phony market and economy from deficits and unconventional measures.
From a trading point of view it doesn't matter that the 9 year bull ended (in highly exposed atmosphere) on Trump's watch.
But from a political and historic point of view it means everything as we're going to be worse than paralyzed in terms of policy response.
Foam the runway.
I’m back home, after 6 weeks in Florida. It was a great trip. I got out, because of seeing Trump’s press conference the day after the election. After seeing what he was saying, I felt that the amount of instability I saw him creating by what he was saying, told me to get out - get out right now. And I did. And said on here what I was doing - and got a little grief for it.
Yes - I was right. It WAS a great decision. After checking with my broker today, every 1000 points the market drops, would’ve cost me nearly $25000.00.
As of today’s close, the market is at 23,600. So, the market is off almost 2600 points since I got out. (By the way, my broker said I was the only one to get out of the many accounts he works with). So, I have so far preserved $65000.00, and, I’m making interest on the money I pulled out.
Where to get back in. I want to see panic selling. We saw some in the Nasdaq last week. I expect to see it at some point in the DOW before this selling is over. I’m looking at a possible 20 - 21,000 buy back in point. If realized, I will have preserved over $100,000.00 of my income. Just by making the right call, on an up day.
When I buy back in, then I can count my savings. But as of now, it’s potential income preservation only - but one thing for sure, my stress level has been greatly reduced....