So it took one day to start the bull whining machine again. Cramer had his usual round of whining and then later stated he wasn't going to whine and proceeded to whine some more. This is par for the course. The thing that took me by surprise was a guest on Bloomberg who casually mentioned that "since the markets are in turmoil". Was I the only guy alive during 2000-2003? Maybe I'm older than I thought and should be in a rocking chair telling these snot nosed kids about how the market was back in my day. Over 3 years, the S&P 500 dropped 50%. It was not up for the year like it is now.
It seems more likely that everyone has very short memories. This is not a market in turmoil. This is a market that feels overbought after a good runup and it's working to correct itself. Will this break the will of the bulls? Who knows, who cares. Your plan should be in place regardless of what people are speculating. It will probably take another 500 points off the Dow to get me interested in another round of buying.
On a personal note, my picks took a big hit, but the natural gas position went into the black.
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