- FED meeting on September 18/19 - probable tapering of QE3
- US Debt ceiling debate later this month, possibly extending into October - expect lot of DRAMA
- Global events such as Egypt, Syria, Spain, etc. - lot of uncertainty and instability
What does it mean for our investments?
- 401K/IRA - If still invested in markets then use this bounce to scale out. If you are in cash or money market funds then stay put until we get next BUY opportunity. DO NOT chase the market at HIGHs as this could turn UGLY if things don't go well.
- Stocks/ETFs - Many stocks have broken out recently, hence invest with caution and NEVER forget to have STOP LIMIT in place. Make sure you take partial gains along the way.
Market back at OLD HIGHs, however be cautious...