Nobody knows what is happening in the next few days and weeks.
Where do I stand? On the side of optimistic rationality.
I waited for this correction for a few months and it never materialized.
Then I decided to add to my POTS (portfolios) some names... and after a week... the correction materialized!
I do need to train my patience more.
The Nasdaq today is at about -7% below its peak on September 6th.
I was expecting a 5% correction. More than that I believe is a great buying opportunity.
Yes, I believe this is a good time to add to my POTS.
Is the correction over? Nobody knows.
I am investing for the very long term and as long as the trend is UP and credit is available to businesses with ease there is no reason to change my long-term strategy.
See how much businesses are concerned with credit right now:
Source: www.yardeni.com
Credit conditions are healthy, money supply abundant.
And, last but not least, the market needed this correction to get back to more realistic valuations.
As David Gardne…
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