Stocks Hammered as ECB Expects Lower Economic Growth

Written by Donnie Nguyen

March 9, 2019

The S&P 500 got hammered this week, dropping 2.16%. But it still remains out of correction territory for the eighth week in a row. It’s now 6.7% away from its all-time high set in September of last year.

The main news this week that sent stocks tumbling came from the European Central Bank (ECB). They are expecting lower growth economic growth in the European Union.

The next event I’m looking at is the FOMC March 19-20 meeting.

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I’ve continued selling stocks into strength to get my cash levels up to 25%. One of my portfolios is above 25% so that resets my plan. Now if the S&P 500 drops 10% below all-time highs, I can make some purchases in that portfolio. The other portfolio hasn’t reached 25% cash yet. So I’m looking for something to sell. It’s not easy since I like all of my current holdings.

How are you guys handling the market? Share your thoughts by commenting below.

Disclosure

I wrote this article myself and it expresses my own opinions. I’m not receiving compensation for it (other than from Wolves Of Investing), and I have no business relationship with any company whose stock is mentioned in this article.

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