I get a little stressed seeing the market go up because I haven’t finished loading up. Holding one financial company and one pipeline right now. The question is was the crash pricing in all the bad news we hear from now one, or has the market not quite finished digesting the bad news on jobs and GDP?
My personal view is that we are far from seeing the bad news play out. I still expect to see some major bankruptcies. Although liquidity does not appear to be problematic at this time and interest rates are extremely low, the demand destruction is going to put severe stress on some companies.
I’m a bottom fisher who generally waits for the market to come to me. Buying low is absolutely essential given all the risks inherent in equities and the vagaries of the market. JMHO.