This week has been brutal so far! The market has been down about 2% for each of the last two days. I've continued to buy in at my price points, but the continued drop has left me with more unrealized loss than I've carried to date. Overall, I'm down about 2% on the shares that I'm holding and almost 4% on a couple of stocks. But this is more than offset by the realized gain that I have for the past two months.
The good news is that I've hit many buy price points in the last two days and I've been able to load-up a bit. But I haven't exhasted all my funds and I'm still only about 60% invested. But this will surely change if the market continues the current spiral.
Conventional day-trading wisdom might call for some stop-loss trades to bail out of my current positions, but I remain resolute that I've purchased good companies at fair prices and I plan to hold on. I remain confident that this will prove to be a good time to buy in whether I'm able to sell out my positions in a few weeks or if I'm required to hold these positions for months or years (noting that I will collect dividends during this period).
The only trading change that I'm considering is avoiding or minimizing any speculative trades. Under any circumstances, this is a minor piece of my portfolio, but I'm leaning even more toward conservatism at the moment....but we'll see what happens when I hit my price point on one of my speculative stocks!
"Earning's Season" looms. We'll see how it goes and if I stay in the red or get back in the black.
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