Are you confused about what to do next?
I'm hearing from a number of people who are "changing" their thinking to deal with the ongoing coronavirus situation, especially when it comes to their money.
They're trying to "buy the dip" which is great but very, very dangerous if you do that blindly or for the wrong reasons. Many have tried in recent weeks only to be nursing very expensive losses just days later.
Still more are blindly throwing their money at companies that haven't got a hope in hell of getting through this unscathed. Cruise liners and casinos come to mind, for example. They're down as much as 89%, in just a matter of weeks. Boeing Co. (NYSE: BA) is another.
Yet, at the same time, there's an entirely different class of companies that's taking off to new highs and proving to be far more resilient than the broader markets. The Clorox Co. (NYSE: CLX) comes to mind, for instance.
Naturally, many folks want to chase that kind of performance because they fear missing out on the rebound.
Do this instead.
- The biggest profits often come from bear markets and many investors simply don't realize that.
- Now is NOT the time to find out you're speculating when you think you've been investing – here's how to know the difference BEFORE risking a penny.
- Follow the data… NOT headlines or any media firestorm.
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About the Author
Keith Fitz-Gerald has been the Chief Investment Strategist for the Money Morning team since 2007. He's a seasoned market analyst with decades of experience, and a highly accurate track record. Keith regularly travels the world in search of investment opportunities others don't yet see or understand. In addition to heading The Money Map Report, Keith runs High Velocity Profits, which aims to get in, target gains, and get out clean, and he's also the founding editor of Straight Line Profits, a service devoted to revealing the "dark side" of Wall Street... In his weekly Total Wealth, Keith has broken down his 30-plus years of success into three parts: Trends, Risk Assessment, and Tactics – meaning the exact techniques for making money. Sign up is free at totalwealthresearch.com.