This is what consolidation looks like, and do not kid yourself, it is a good thing!
The S&P is down 4.62% and the NASDAQ -7.37% for September. The pace of the drawdown is a little swift, but like everything else these days, things move just a little bit quicker.
We have all been here multiple times with the market, but how quickly we forget. The markets came into the month roaring and let us be honest, some of our newer players into the equity market got a dose of humility. As the election draws near and the stimulus package stalls out. The market wants to rest and have more clarity. Not too much to ask!
So, as you step out your door and watch another Amazon truck shower your neighbor’s porch with gifts, you must ask yourself a simple question, “Is Amazon going away?” or “Is this an excellent opportunity?”.
Someone once told me when it comes to buying stocks. It never feels good when you should. Pretty solid advice.
Justin Nichols