06-17-2020, 04:36 AM
(06-16-2020, 09:15 PM)divmenow Wrote: I went 70% cash today. Sold a lot of names near the highs of the day. Market is becoming way too frothy for me. Better opportunities around the corner. The Fed will stop pumping up the market soon. This can't go on too much longer. The fact that AAPL is at a 52 week is a joke lol. I will be patient and wait for a better opportunity. No need to jump in for a while. I'm quite content going into the summer with cash and knowing I had my best year ever. And I'm not giving it back lolSee you back here next week then?
My goal is to just add to my top 10 holdings on correction and take my picks on companies I like at a big discount.
I'm sure you'll get some more buying chances, but I won't be surprised if J. Powell and Trump jawbone the market up on any real dip between now and November. I can't know for sure if the election will be close, but that doesn't seem like an outrageous thought with all that is going on right now. That will cause some sector rotations. Next quarter's earnings is what I have been looking forward to. Nobody will be all that shocked, but it will bring valuations to light. I am doing everything slow, and sticking to companies I am comfortable holding for a very long time. I've been doing that for months though.