The SPY closed at a record high. Climb that wall of worry. If you are not long, you are wrong.
Interesting action in the markets. I am a buyer here, but with an exit plan.
Continue to follow our series on how to make money in any market.
Last week we offered a tutorial that demonstrated in real time how a smart investor can effectively manage the risk of buying stock at the wrong time.
You realize that there are, in fact, right and wrong times to put your hard earned cash to work in the market. This assumes a desire to maintain your portfolio value at comfortably close levels to all time high values, at all times.
Some of you may not care if your portfolios lose massive percentages of their value over select decades. In that case, this is not for you.
This market is a great learning opportunity.
If you can learn to plan your investment choices carefully, methodically, with the ability to perform the task over and over again, you can make money in the market.
Next week is a great time to start learning how to become a successful investor.
Some stocks look like smart buys right here and now.
The Market may be putting in a bottom for now. No way to know until we have the benefit of hindsight.
So what is one to do?
You can take on some risk if you know your exit strategy. Watch the video to see what I mean.
PFE looks appealing to me on the daily and weekly time frames as you can see below.
NOTE: The market is correcting, so I just started a small 1/4 sized position. If it breaks below 29.36 I will consider the overall status of the correction and decide if it is worth closing the position.
I like the dividend as well.