A positive statement by the Fed today lifted markets somewhat. But it may not be for long… some may interpret the Fed Chairman’s remarks as proof positive that we are in, or headed for, a recession and the economy may continue getting worse before it gets better.
“We stand ready to take substantive additional action as needed to support growth and to provide adequate insurance against downside risks.” Ben Bernanke, Chairman, Federal Reserve
Maybe so. But for the long term I just think this is a great opportunity to firm up that portfolio. The market may continue swinging downward with great volatility over the next month or two. February can be a challenging time historically for the market. I like Ben Stein’s view when he says “Don’t Buy the Panic.” I see the current market dynamics as opportunity, and will continue making IRA contributions during this timeframe. But a lot of folks are still bearish, and advise keeping a good amount of cash on the sidelines. Nothing wrong with that, just remember to put that money back to work at some point!
But the big news is I’m working on dropping some weight (and keeping some food on the sidelines). More of a health resolution than anything, but so far so good. Ever go on a “juice fast“? Works really well… but for a “foodie” like me it’s harder than disciplined investing! Feels great but is strange to go without real food… while combining healthy fruit and vegetable juice and working out during the day I haven’t been that hungry. More desirous of food than anything perhaps. I’ve got a 25 pound goal to work off over the next three months. We’ll see how it goes!
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