Economy is doing well. But even with an ok economy, stock market can still sustain significant declines. Sell on the news of tax reform would have been correct
Yes, the dip will be perm correction to the level of bonds rate hike as lender ( company finances, REIT finances and residential mortgages ) are not getting free printed money from USG/FED and they need to source it from external market sources.
If FED adds more rate hike, the market will react to the level of rate hikes going forward.
This is the main reason Market was going up madly Jan 2018 ( without any reason like bitcoin ) before falling down!
This is all my guess work, it may be right or wrong , left to the forum members take their own decision.
I’m going to put in a buy for AMZN at 1050 (or maybe 1075). Wild gamble. My guess is it won’t go down past 1150, though, and I’ll rethink it when the dust settles.
Selling is also part of individual strategy like buying, you can not everything in selling is wrong. It depends on comfort level and case 2 case individual basis.
+1 I didn’t sell tho’ I was tempted. otoh, I wish I was brave enough to do what @Terri did. I think what she did would have been the right thing for me (I am a little risk averse)