Continued Doom and Gloom… Should I Give In?
It’s raining bad news again. The pace of bad news seems to be accelerating.
- The European Central Bank will end its asset purchase program as of July 1 (QE), and it’s expected to raise interest rates for the first time in 11 years
- Bank of Canada Governor warns the July interest rate hike might need to be bigger than previously thought. 0.75% increase is on the table.
- US inflation hit 8.6% in May, the highest level since 1981.
- Shanghai, China is going back to locking down districts to fight COVID, indicating that China won’t be making cheap products at a quicker pace any time soon.
A lot is going on in the world. Perhaps it’s best not even to watch the news.
But I can’t help but feel a bit anxious over the stock market’s ups and downs. I need to get over that.
On paper, I lost a lot of money yesterday and again today. My FNGS purchase was the biggest loser (mostly due to the amount of money I have in that position relative to the others, I guess). FNGS was down 4.3% yesterday and down another 2.5% so far today.
Maybe I got in too early with that. But there’s no way to perfectly time it.
Time to just hang on. Hopefully, the values in the stock market get even more “value,” and I can pick up some more at even lower prices while I still have lots of cash.
