“Stocks haven’t bottomed yet, so wait for this signal, advises Charles Schwab strategist”
March 3, 2020
“It is tough for investors to find the exact bottom for stocks, he says. “Imagine if we had two really strong up days right now, we would still be significantly lower than where we started before this thing went down. At least then you’re jumping in when the momentum, has shifted.”…
“I don’t think we’ve seen that just yet. People need to be a little bit cautious and wait. We don’t know where the bottom’s going to be, but it doesn’t feel as though it’s here just yet. It’s too risky to be doing any bargain hunting and buying at the moment, but that also means don’t panic and sell out of your 401(k)” and retirement portfolios…”
My advice is if you’re a day trader buy now. At the very least you’ll have 1 or 2 good days. Then you can sell in real time if you see the market react badly. I agree it’s risky for long term investors. For short term investors and risk takers there’s no better time than now to invest.
Also this is not a world ending event. Do not panic sell. What people should do is after the markets are stabilized they should double down and buy even more of their stock. The same stocks they’re panic selling are going to rise during a recovery.