I'm a new investor. Approximately a month ago I bought Tesla at 405, Amazon at 1809, Zoom Communications at 129, DBI, SFIX, MKC, and DIS. I sold out after approximately 8 days with fear of a downturn in the market. I profited a small return. What a huge mistake looking back. I never saw the market moving like this. I want to re invest, but I don't see much potential for and uptrend from here. I'm constantly waiting on the next bad news to pull the market back down. I don't see any logic in buying in to Amazon at over $2,300+ a share or Tesla at $750+. I want to wait for another downtrend and buy in. Did anyone else see the market moving this way. What are the opinions on my logic? Please give me feedback.
With Amazon reporting earnings shortly it could still be a good buy! Even tho it feels wrong given the high p/e, I am keeping my position.
How many small businesses are never coming back from this? Lots of people looking for a swift rebound and back to normal now that we have bounced off the lows, but no way in hell that is happening. If you are not working, you are not buying that new tv, or the new PC, or the new car, or the new sofa... sales in almost every sector are hit and its not coming back this year.
There is (at least) one known market-timing strategy: buy if SPX closes above 10-month moving average at end-of-month; sell if SPX closes the month below the 10-month ma. You only check once a month with this strategy, and the reason why it works is because the major drawdowns typically occur below the 10-month ma. Just wait 3 more days, and see how the SPX closes on Thursday. No guarantee this will work, but at least you can say you're taking a reasonable approach that is not affected by emotions.
