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I did not have massive losses - maybe 20% off the high of this year. I've been drawing on this portfolio for seven years and, even after today, it's still pretty healthy. Just didn't want it to erode further. I'm too old, I'm not working ..... time to buy that annuity.
I have been trying to trade this market unsuccessfully for a couple years, so when the selloff started I just went to cash (have been for over a week). I bought & sold some puts todays and made about $6.5k just today- the rest is still in cash.
Sadly, I lost more than I should have in the last year or two (like a gambling addiction, I feel stupid), but I am getting better at timing options and I now have this selloff so I can get back into equities which I will not trade.
I would not be too sure about that "this administration" thing - no one really wants the market to go down - even though some people in Hollywood would probably drop $1,000,000 just to see Trump gone.
My Roth is all money market---
I wish I had used 10K and bought an inverse fund in Oct when we saw our FA...
Could have made a really nice nest egg for my grandson...
Still time to do that apparently from all the negative predictions going forward into 2019...
Like Ariadne I would like to take advantage of a negative market vs taking a beating...
But my FA -- that is not his philosophy---
If he won't be amenable to helping me "trade" how do I find someone trustworthy to work with?
Going to watch "Trading Places" probably...
Happy Christmas to all and to all a Good Night...
I don't understand selling it *all.* That just seems so unnecessary.
Dropping an equity allocation % level, yes that makes sense for awhile, but getting completely out of the market? It's exactly what is in the 'don't do these things' lists for investors. In fact it's like the #1 don't do this item.
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