According to my esteemed associate the market went into correction as of yesterday, 11/16. Now woould be a good time to adjust your stop loss prices to protect any gains you have made over the last few weeks/months. Market correction is something that we will be talking about a lot on this blog but all you need to know right now is that when the market goes into correction it is poised to make a drop and it is a good time to evaluate your positions and sell off any stocks that are bordering on turning a profit.
Tim and I have a little different view on how to best manage our portfolios, but that is what makes us a diversified investment analysis team. My view on market correction is that when it begins I tighten up my stops to ensure that I don't take a loss on anything. But I don't sell off my entire portfolio unless I think there is a good reason. I believe that Tim favors selling everything during a market correction, but I'll let him explain his approach in a future post. Maybe we can even get an explanation of market correction out of him. I'm not sure that either of us have it all figured out yet, but hopefully with both of us working on it we can turn a profit, or in this case prevent a loss. Happy trading!
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