I have no idea how far down, and as much as I dislike seeing my portfolio balance falling I kind of have a secret desire for it to continue falling till everyone capitulates!
This process is ultimately very healthy for markets and I believe is “the great purge” to rid the market of the “sins” of the FED the last 12 (?) years.
I've gotten to the point where I feel it really needs to fall to at least 3000 if not even 2400 or so. That would put us back to the March 2020 low I think.
It would also be a great buying oppurtunity for future generations of investors!
Remember that as accumulators (myself included) (20 years till earliest retirement) we should be HOPING that this thing crashes and burns to the ground!
I'm not a bear, but I think we need this reset and we need the market at a fair valuation. I think that's about 2400. I'll slowly start buying in though at 3500 or so share by share!
So seriously how far do you think the sp500 will go down by July? I'm guessing we may be at 3500 by then but I'm not sure.
The good thing is is that Tom Lee has a price target of 5200 by end of 2022 still which may be a little high, but nonetheless positive. Anyways someday we'll hit 5000, whether next year or 2024.
The good news is that if we buy into the sp500 at 2400 we'll have about 100% return to get back to even 4800!
That means if we fall to 2400 and you invest $50k, and we eventually get back to 4800, even in a few years you'll have $100k!!
You'll double your investment! This is why I'm hoping the market falls to at least 2400 cause I have about that much in cash to throw at the market!
Good luck to all!
Here's to 2400!
So how far down do you think sp500 will go in your estimation?
Thoughts?
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