There won’t be a bell rung to let you kn…

There won’t be a bell rung to let you know when the sell off has played itself out.  Again, I don’t expect we’ll see much if any lift intraday today…and tomorrow will be a new day that we’ll evaluate when it gets here.  More importantly, as I keep telling you guys, is that we’re trying to trade and invest to maximize our gains over the next ten thousand days…not for the next day.

Of course, the profit and loss on my stock sheets today looks awful and bloody red.   And I’ve got a knot in my gut just like I always do when I lose money intraday.  But that’s part of the reality of trading…it’s not easy and it will take time and it will stress us out along the way.

I don’t expect to do much buying today, and I’m still waiting to pull my first trigger of the day while this market continues to try to stabilize intraday.  Lots of stocks are down 3-4% and that’s getting tempting, though many of those positions were up a few percent on my sheets from where I purchased them originally anyway, so it’s not like I’ll be lowering my cost-basis by much by going in guns blaring today.

Easy does it, that is.  Don’t panic over the S&P’s cut of the Republican/Democrat Regime’s borrowing power.  The time to have cut our rating was back in 1999/2000 before the dot-com crash and ensuing fiscal crisis or in 2006/2007 before the entire meltdown of our financial system. Do you really think that just our years later the S&P finally learned something and should be a determining factor in your own stock purchasing and portfolio approach?   I didn’t think so.

Stay the course.