Sorry guys, I think I crashed the market by buying in yesterday. Always a bearish sign. My bad.
So Tech is breaking down again today, and I’m down about 15% since highs a few weeks ago.
No telling if this is the start, and I wish I was better prepared by hoarding more cash. I did reserve some but I spent much of it these last few weeks. Still have a bit of bullets left but have to be careful about taking the shots.
What I’m thinking about doing is selling more defensive names such as my S&P 500 ETF to raise some cash, and look into re-deploying into beaten down names. Top of the list are Tesla and Corsair.
Always a shame to sell a reliable ETF. It’s done pretty well these past 3 years, and gave about a 20% annual return. The S&P 500 ETF is also something I recommend to friends and family without hesitation.
But I think there are better opportunities right now. It may look red for a while, but as long as I don’t need to touch it or am forced to sell, I’m fairly sure these investments will do alright in the long run.
Short-term, we could be in for more pain though. But I would take it as an opportunity rather than a loss for the portfolio.
Right now, I’m still laying the seeds for greater wealth years in the future. Still able to tolerate some risk and ride the ups and downs. And I think its only by taking on some uncertainty and pain, we can reap out-sized rewards.