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That about sums up last week. The Fed met and decided not to raise interest rates, yet. However, the consensus on Wall Street is that they are likely to do so some time over the summer.
Since volume is low and it seems as if Wall Street has started the summer a little early, it's a good time to talk about investing strategy in regard to time. It's common to see market analysts talking about the short term or long term. What do they mean? It is critical to know your investing time horizons. Therefore, are you in it for the long or short term? If you are a short term trader, you might as well stop reading and find another web site. TechStockMania.com is about the long term.
With all the chat about summer corrections due to interest rates rising, it's a good time to look in the mirror and ask yourself, "Am i prepared to own these market leading technology stocks for the long term, and not panic if the market corrects over the summer?" I am.
However, if I needed cash to buy a home in the Fall, I would be very concerned with my portfolio. Since I don't, it's time to be patient.
Oh, and by the way, if the market does correct over the summer, will you have the Guts to buy the market leading tech stocks? I'm waiting for my opportunity to buy Broadcom and Yahoo. What are you waiting to buy?
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