Personally I dont buy any of this reasoning. I severely doubt that anything to do with tariffs was involved in the market FADE mid-day. I consider that basically media.....BS. Stock market gives up gain as morning rally fizzles out https://www.cnbc.com/2025/08/06/stock-market-today-live-updates.html I also very much doubt that any retail investors are selling anything. This is all the TRADERS, SPECULATORS, and AI TRADING SYSTEMS at work......churning out their "attempted" second by second, minute by minute, profits. Classic HERD BEHAVIOR as Wall Street moves in unison and creates a little self-fulfilling prophesy. They think they are so smart......that they are trading the dropping market. In reality they are....CREATING....the dropping market. I have seen many, many, times....any time there is a big drop or a correction or a bear market.....it is the Wall Street crowd, the professionals....that react like MORONS.
I continue my non-investing life. Playing shows a few times a month and going into the studio multiple times a month. I am also actively doing my ART THING. I have a painting and a piece of sculpture that I am watching over the run-up to a national auction in about two weeks. I think I will have a good shot at the sculpture. The painting....I may have some real competition for it....and....I am not inclined to over-pay. It probably has a retail value of about $15,000. The most I might pay would be about $9000 to $10,000. It is a well collected artist right up my alley......and was painted in 1923. So i know the market for this artist very well. Unfortunately I think there is a dealer that is also looking to snatch up this painting and he will pay more than I will.
Well that was a wild ride the last few hours. We turned a red fade green. The markets hit bottom about two hours ago and than turned sharply up till the close. At the bottom my nine stocks were in the RED. By the close I had only three in the red....WMT, HD, and MSFT. I ended the day with a borderline big gain.....at least strong medium. I also beat the SP500 today by....0.83%. A good close to a wild and crazy day for me.
Here is the markets today in a nut-shell. Basically hit by profit taking.....probably triggered by the early highs. "The Dow Jones Industrial Average gave back gains and turned lower on Thursday as investors pocketed some of their profits in what’s been a solid week thus far. The 30-stock Dow fell 224 points, or 0.5%, bogged down by a 2% decline in Caterpillar shares on the heels of the construction and engineering equipment maker warning of the effects of tariffs on its business. The blue-chip index rose more than 300 points, or about 0.7%, at one point earlier in the day. The S&P 500 ended 0.08% lower after trading up 0.7% at its high of the day, while the Nasdaq Composite advanced 0.35%. The tech-heavy index had surged more than 1% at session highs" https://www.cnbc.com/2025/08/06/stock-market-today-live-updates.html MY COMMENT By the close the SP500 had fought it's way back to nearly flat....a loss of 0.08%. The NASDAQ ended with a nice gain......about +0.40%....but backed off from the earlier highs. HERE is more on the day: "S&P 500 earnings are currently on track to grow by 11% in the second quarter versus the same period a year ago, according to FactSet. That’s almost three times the 4% seen at the end of June, per Goldman Sachs." ......"Week to date, the S&P 500 has moved up 1.3%, and the Nasdaq has added 2.4%. The Dow has advanced almost 1%. Prior to Wednesday’s modest gains, the S&P 500 had notched five losing sessions over the past six trading days, and the Dow had had six negative days in the past seven." https://www.cnbc.com/2025/08/06/stock-market-today-live-updates.html MY COMMENT In fact the NASDAQ....closed at a new record. I will take the....happy ending....to the day. Whether you did well or were flat or had a loss is totally dependent on what you owned on a day like this. I happened to own the right stocks and did well.
Lets hope we have a little less CRAZY day tomorrow. How about a nice gain that just sits all day long till the close. I am glad I did not pay much attention to the markets today...the volatile and erratic short term today could drive you insane. MOVING ON....with new money in my pocket (account)....and a new all time high. YES.....I continue to be fully invested for the long term as usual.....RIDING THE WAVE.
Doing just fine over here in England. Summer will be coming to an end soon but we have had a really good one. Weeks and weeks of hot and sunny weather which is rare! Been away for few days on a little break in the south of England with family and friends. Just catching up on all the posts now. My account is doing very well! Hit another ATH yesterday which has slightly faded in the last few hours but we are still looking very good. Current portfolio: S&P 500 ETF NASDAQ ETF Amazon Apple Nvidia Palantir I know it's a high risk; I know it's tech heavy...but it is doing so well! I have been tempted to sell Amazon and Apple, and use that money to buy Costco and/or Home Depot. I'm undecided. I may make that move someday to reduce the high tech exposure. For now, I'm happy
