On 3 February I sent out this tweet:
Since then, the market has moved from 3996 to 4241. That is, the NASDAQ is up 6% in the last 10 days. As it turns out, the tweet was sent out at a (local) low.
It's funny. People will buy shoes when they mark them down 20% but they run from stocks when they get discounted. I guess nobody gets nervous when they lower the price of shoes.
Anyway, I'd be lying if I said that I was convinced that the market was about to jump up. My only conviction was that stocks would eventually go up and this, then, represented a nice discount. It was sort of a lucky call. It was sort of a product of my feeling like I'll probably be dependent on market returns for a long time and any short term drop just represents an opportunity.
My tweets, past and future, are here.