skiehawk11 wrote:I stayed out in both Fantasy and RL TSP accounts. I figured a buy opportunity would occur if it happened. It's just more waiting than anything for the market to determine a bottom.
We had quite a few members who opted to buy the dip Friday. They saw it as opportunity to buy at a discount. But stocks haven’t dipped so much that they’re suddenly cheap. A lower price is a lower price, but not necessarily a good deal. We are only 3.86% down from the Jun 8th high of 2,119 (S&P500). And the summer is just getting started. The last three bottoms went below 1,870, which is about 10-11% below where we are now. That’s the chart way of looking at this.
You can’t deny that there are many questions weighing on investors minds now. A few of which are:
What will be the terms under which Britain leaves the union? What kind of new trade deals will the U.K. reach with other nations once it is on its own?
Will Brexit spur other EU members to secede?
Britain won’t exit the E U for about two years. There is a lot of uncertainty about what happens next and its effect on the global economy. The stock market doesn’t like uncertainty.