David's avatar
$16.6m follower assets
As bad as it has been lately I still think the bottom is behind us.
This is all gut feeling but I think Peak fear was at around May 11. I've been keeping up with the macro environment as much as I can and I do not feel anything as close as how mid may felt. Having said that it is entirely possible we are going to be trading sideways for the rest of the year but I think the bottom is in the past. Thoughts? Also what movements are you doing now? staying in the side lines? DCA'ing?
Alex Biestek's avatar
Tough to tell if we've gone past the bottom or not, but my gut agrees with you. I will continue to add to my current holdings every two weeks when my money hits the brokerage account. Slow and steady, nothing crazy!
David's avatar
@acb123 Slow and steady! 💪🏽
Tyler P's avatar
Hard to predict the bottom when there’s no rhyme or reason to a particular day’s sell off.
David's avatar
@tpellom or when the market rallies after bad news 😂
Jeff Sanders's avatar
I tend to agree. We will come close to June lows but don’t think we go lower unless..JP goes a full point rate hike next week.
David's avatar
@darthtrader and even then I dont think it will be much lower than June lows. Nothing that would make it worth staying in the side lines in my opinion
Preston | Investor Insight's avatar
I’ve been on the sidelines most of the year and will remain on the sidelines.

With the Europe energy crisis, accelerated QT, and inflation not coming down, it will lead to more tightening and downside pressure on the market.

In addition the bond market is flashing cautionary signs that a bigger drop could be coming in the early next year.

In my opinion this is not the time to buy the dip but be patient.
David's avatar
@investorinsight I think what you did was 100% the right move but for someone that is fully in the market now I would definitely not recommend them to get out and stay in the sidelines. Wonder what made you not think twice and get out with great timing?
Preston | Investor Insight's avatar
@avid6ix It was all focused on TA and Macro Analysis.

We have seen over a decade of QE and I knew that once the Fed reversed course, it could get very brutal for the market. The moment they started raising rates I knew the impact of that I went ahead and took advantage of that rally to sell into the strength of the March rally. We ran over 10% for no reason after the first rate hike.

We confirmed a lower high on the market which means a trend change, so I got out and am watching for any bottoming signals to occur. So far - I dont see any.
David's avatar
@investorinsight Im not a macro guy but from what I've heard the Fed tried reversing course in 2018 right? What made you not exit then?
Preston | Investor Insight's avatar
@avid6ix I actually started my investing journey December of 2018, so I was not actively participating in the market at that time.

Macro is incredibly important. As an investor, knowing what the Fed is doing is one of the most pivotal things to educate yourself on because it displays the trends of the market and when it makes sense to determine strong entries. I would encourage you do some research on macro as it will change the game for you :)
David's avatar
Preston | Investor Insight's avatar
@avid6ix Let me know if I can help you in any way.