Market Gaps At Open, Don’t Forget Discipline
The market has rebounded early on today after yesterday’s bleeding, with as of noon the NASDAQ up 1.91%, the S&P 500 up 1.29%, and the Dow Jones up 1.34%.
I very quickly want to mention the importance of discipline in these times. I was speaking with several money managers yesterday and the major theme was short term value plays. A lot of buying went in late yesterday expecting a rebound today. The best traders are taking quick profits and staying disciplined treading in uncertain waters.
Just because the market has gapped today doesn’t mean the bull is back on. Take a good look at your portfolio and consider the future outlook of your positions. Have they held up with the recent correction? Don’t be afraid to walk away from long term holds and readjust your portfolio or move into more cash.
Take advantage of today’s movements and maximize its worth in your own portfolio. The independent investor that stays disciplined will always be successful.
yeah that is true, but lets hope it stays