Newbie's Blog: Getting Red-dy

The S&P500 is falling. From nearly 2600, it is now at 2510 points. Stocks are red and I think they will be redder. Is it because of consolidation? Or that the market is now setting its sights on the next worry now after July's expected increase of 25 points.

Well, whatever it is, my opinion and my actions tell me that the peak is here and we could be on a downward trend. With  Tesla well as $NIO Inc.(NIO)$ being bearish, I am not worried because I bought some at a lower price. Should I sell and get some profits? I am still thinking about it because I believe that in the long run, EV stocks can go higher. These temporary ups and downs are...Well, temporary. The problem with my investing is that I am often fixated with the short run (2 - 6 months).

I want to focus more on the long term. I have a basket of what I feel are growth stocks, as well as some meme stocks (such as $Faraday Future Intelligent Electric Inc.(FFIE)$ and $ChargePoint Holdings Inc.(CHPT)$  ) of which supply EVs or EV charging points.

If the market sinks more, I will use this opportunity to purchase more. However, what I will spend must be something I am willing to lose or prepare not to have access to these funds for a long while. The market is said to be cyclical but will generally trend upwards (that's what the gurus say). That being said, the challenge will be identifying the bottom prior to the next cycle. That could take weeks. Furthermore, it is still earnings season and any success by large companies (Microsoft, Amazon, etc) could still affect sentiments of the market, albeit temporarily. In addition to this, knowing a stock well, which includes knowing the "buy price" is very important. While the bottom may go down lower than the "buy price", I think knowing it is important. This is what happened to me when I bought $DBS GROUP HOLDINGS LTD(D05.SI)$ . Just when I thought $32 was OK, it sank lower to $30 earlier this year. It was a costly lesson, made less costly and painful, thankfully, by its dividends.

In conclusion, the market is red. I think I am going to get "red-dy" to buy.

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