You Should Be Buying Right Now, But Carefully...
Seriously Fools, get out there and make a purchase.
I'm not here to tell you that the economy is all sunshine and lollipops and the market is going to 20K next year. Quite the contrary actually. But that doesn't mean you should be running for the hills with your tail between your legs either.
Is the market going lower? Possibly (I tend to think so), but who knows. The point is that we've had a nice little correction here and you should be dipping your toes back into the water.
Don't go all in, don't buy speculative garbage, and whatever you do don't make a single large purchase withevery last ounce of dry powder, that's just stupid. Instead, start buying your most favorite companies slowly. This is the perfect time to buy in tranches/parts/pieces/whatever you wanna call it.
So do just that, start making purchases of you favortite equities and continue buying them the lower we go. Don't add shares when they drop 5%, that's just silly! Wait for another large drop and then add to your holding. For me, I like to set low ball limit orders and hope a few get filled, like they did today. Whatever your strategy is, make a plan and get to it.
I'll be the first to admit that I have no idea where the market is headed right now, there is just so much uncertainty. However, times like these are the perfect situations to start dabbling and picking up some shares. Don't be scared and run away, that's not how you make money in markets like this. Find a stock you want for the long haul, determine a price you'd be happy with buying at and go for it.
While I admitted above we may continue downwards for a bit, the odds are increasing in your favor the lower we go. Remeber, we are already down ~17% from this past summer. That should make you feel a hell of a lot more confident than when we were in the 1300's.