Today is Saturday, or should I say THE Saturday after a CRAZY Friday? This last week was nuts. I thought I knew exactly what I was going to do, and sell a few stocks and buy a few others. I had a plan, but things did not go the way I expected. Monday, I always wait a bit on Mondays because the stocks get a little changeable during the early part of the day. I’ve gotten into trouble before by putting my purchase in first thing on Monday and watching my stock drop down almost immediately. Then it stays down for a month or more!
So, I give Mondays a little time to let the stocks settle down. But as I was waiting for a good time to jump in, all the stocks I wanted to sell started going down, and the ones I wanted to buy went up. Everything was topsy turvy for the day but went to where I wanted it to be at 5 minutes to 4 and quite frankly, I missed it. As I waited for Tuesday, I started reviewing my plan and realized that I should have written it down. Tried to get it all together and when Tuesday came, I just felt that the time wasn’t right.
I decided to wait a bit. After all, I have some stocks where I have lost money and some that I have made money. Fortunately, more are making money than are losing, and if I do nothing for a while, it just won’t kill me. In the meantime, 2 of my loser stocks came out of the red and started to make money. And then came Wednesday.
Stocks started to drop. People were saying that the CapEx of the Mag 7 to be spent on AI made investors nervous and all the biggies started to drop, which pulled the entire S&P500 down. That meant that Thursday was a bad day too as investors started selling out on stocks, and I couldn’t even figure out where they were going. Even healthcare was down. The S&P500 went to crazy lows, and all the indicators were falling. I heard that even Cramer was confused!
A lot of people were selling out but I did nothing. I know I should have bought but I chickened out. I have a tendency to over think things like this, and I did it here too. Friday came and usually Fridays mean stocks go down, at least that’s how it feels. Boy was I wrong! Stocks started climbing, including some of mine and “land a Goshen” the S&P500 Hit a new high! By the close of the market, everything was back where it began. Now the question is, should I go back to work my plan? or should I just let things ride for a while.
I have the rest of today and tomorrow to make up my mind, I guess. I can dig into the stocks that I want to shuffle and make a decision. There are more financial reports coming out next week including the Jobs Report, but also CVS is reporting and there is more big names making changes that could upset my apple cart. Besides, a lot of my tax papers are starting to show up now and I will have to sit down and put all of them together and get that out of the way. It takes a lot of concentration on my part to do taxes. I sure wish they would make them easier.
All that means is that while I may go in and get rid of a few stocks that I am not happy with, I don’t think I’m going to do anything crazy for a while. Just let things work out as they are.
