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My 4IR is also dumping :-(
I'm also down 13% on my S&P 500 inside my tfsa
Have a clear investment strategy and stick to it. Nobody knows what will happen so you will shoot yourself in the foot if you keep trying to swap around and chase the gains. If you contribute monthly then now is perfect for dollar cost averaging. It WILL recover again, assuming you are in it for the long run, as you should be.So what should I do with the S&P500 in my tfsa ?
Would it be better to move it to something else, or ride this pending doom ?
We are not close to a bear market by traditional definitions. Actually, the S&P500 is not even in a correction yet. It is still in a pull back, just above correction territory on the graph. The Nasdaq only went into a correction on Tuesday. Difference between a pull back, correction and bear market explained below:It's a bear market. Correction started around 4/5 January and the S&P500 already shed almost 7% of its value on a daily basis up to yesterday. Nasdaq's fall started a day earlier. This whole month shed almost 11.5%. The same with the Dow, continuous fall this month shedding around 4.1%.
No end in sight. Investors getting more nervous. I expect further selloffs. The biggest fall will likely come when the Fed hike the first rates.
I suspect the correction already started. Just not sure if it will end this year or the next. Perhaps even continue through 2024. Many investors thought this would have started end of last year. They were not really wrong. And they also did predict a massive fall in the markets. Some speaking as much as 60-70%.
I am going to take the opportunity to engage some cash into rebalancing my holdings this evening. I am considering some Etherum but I will do that last if at all.
yields are not rising, meaning people are sitting on cash and waiting for the interest rate announcement on wednesday, and then things will pick up again
in the meantime I'm trimming some of my short positions