Buy The Dip
- Posted by Frank Zorrilla
- on August 1st, 2014
The SP500 is down roughly 3.4% from its 7/24 $1987 high. If you bought the dip and you are temporarily down regardless of the outcome you did the right thing. Buy the dip is what the market has conditioned everyone to do since 2009, and buying the dip has worked tremendously over the last year or so. The discipline based on recent market action (last few years) was to buy the dip not to short in the hole since that has not worked for a long time.
But once you buy the dip, if you did, how you handle it afterwards is what will make all the difference in the world and this is when risk management and awareness of the current situation comes into play.
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Frank Zorrilla is the founder and chief investment officer of Zor Capital LLC.He began his Wall Street career 10 days after his 20th birthday when he became a Series 7 licensed stock broker. More »
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