Predictably, President Grump is messing with the well being of the stock market with his trade wars with China. Tariffs are anathema to stocks like AMZN and TSLA, and they have suffered mightly lately. Fortunately, this is but a temporary situation and the stocks will roar again soon enough.
We are at another crossroads in the market, with stocks today closing at their lowest point since April 2017. If you have been holding very long term as I have, through 2008 as well, this is annoying, but not the end of the world.
My advice is to HANG ON, and if anything…RAISE do not lower your sell prices on anything you plan to sell in 2019.
Regarding the recent drop in AMZN from over 2000, to below 1700….
In December 2015, AMZN hit 700 then it crumbled over the next month or so it dropped to below 480. But by early May it was over 700 again. The sky seemed like it was falling then too; that was a solid 30% drop in AMZN but it still recovered. At that time the fear was that the Chinese economy was slowing. Seems stupid now that we would care about that (and get over it so fast too, because nothing changed, I mean it’s not like there was any news released to the effect that the Chinese economy was no longer slowing), but all these dips will seem stupid looking back when AMZN is back over 2000.
Market is volatile but for the most part ignoring Grump. AMZN too unstable to hold long term right now. TSLA seems good to me though!
Back on target, with AMZN and GOOGL over 1000, TSLA over 350. AAPL and BAC still up there too. Very good!
The Grump rally came to a grinding pause today, but I expect higher highs eventually as people shrug this off, the way they have everything else in the past.
As I predicted, AMZN roared up over +70 points yesterday seconds after blowout earnings were announced.
Today, just like the last time the day after such an event, it tanked (relatively speaking) off its highs.
Been a good time to be long. Today GOOGL earnings. NFLX tanked post earnings but I think either AMZN, GOOGL or both will roar after the earnings bells.
January was rough! if you were long, but the market has been stabilizing even roaring, lately!
Lot of earnings this month. NFLX reported, collapsed. Now waiting on GOOGL and AMZN reporting October 22, 2015!