I certainly agree that what we are seeing in the markets right now is....UGLY. I also agree that this trend is not a good sign for the next 3-6 months in the markets. BUT.....all of us experienced investors know that nothing is set in stone and the markets can turn on a dime. There's an ugly trend developing in the stock market Some of the market leaders experienced an 'incredible reversal of fortune' lately, one strategist explained. https://finance.yahoo.com/news/theres-an-ugly-trend-developing-in-the-stock-market-173015701.html
I don't know. Their definition or meaning of an ugly market is different from mine. "Ugly" to me is a deep, broad sell-off past correction levels. I think some of their displeasure comes from some of the high runners pulling back or even stalling out for a bit. "Trees don't grow to the sky" after all. Just my thoughts, but some of these companies have gained wildly in the past year or so. A whole lot in some cases and over a relatively short period. When I see those type of run-ups, it is hard not to imagine them coming back down a bit. It is probably actually healthy for the long term if they do. On the flip side, maybe it is the canary in the coal mine. I really don't know. If they think it is ugly now, what are they going to think of it in a bear market? We will find out at some point and then they will really have something to grit their teeth about. They will lose their ever loving minds when it does because that is what they do. Sometimes....many times, the market does stock market things that are normal, but the financial media portrays it as something we have never seen.
Speaking of stocks that have done well for the year. Another old time favorite KO is up 14.28% YTD. Of course, they are getting some pull back today as well. I am so out of the crowd in today's times. This return is so below par for what young investors are looking for...LOL. Never mind me....I am just reminiscing the good times. Obviously a long time favorite of dividend investors. They have paid a dividend increase for like 63 years I think.
A braod based sell off today....at least in what I happen to own. My only two stocks that were UP today were....COST and AAPL. I also got hammered today by the SP500 by 1.55%. Moving on to my HD earnings tomorrow and my NVDA on Wednesday.
To make myself feel better today I made our one art purchase for this year. it is a piece of Western sculpture....a bronze. Less than $10,000. I got a very good price.....a 15% discount for doing a wire transfer..... plus free shipping. So....a better deal than I expected. So....screw the markets.
