Earnings season has kicked off!
The results were so-so at the moment.
When the banks reported their quarterly earnings, almost all dipped on the same days.
But the news left no impact on the stock exchanges.
The market continues to stay strong, and the major indices are now trading within their record highs.
Next week, 200 companies will release their financial statements for the 2nd quarter.
Here's another feel-good info for you.
Many investors ignored the political noises that include the debates on health care and tax reforms.
They remain upbeat and this help to push many stocks higher.
Let's dive in and see how things are in further detail.
Here are the daily charts for the 4 market indices.
For weekly charts, this is how the market indices fared.
Nobody likes to lose when it comes to money.
The truth is...losses are an inevitable part.
The solution is to keep the losses small so that they won't hurt your portfolio.
But it's not easy as it sounds.
Here are two scenarios.
First. One of your stock is suffering paper loss. You chose not to sell it. You hope that it's a temporary blip. But trying to save a bruised ego by ignoring a paper loss can lead more pain as losses mount.
Second. You fear that you’ll miss out when the stock recovered and bounced immediately. So you sit on the dead money. But there is a chance that the small loss can turn into a larger loss while waiting for the stock to recover.
What happens if the damage gets greater than expected? Usually, it's best to sell. ASAP. You’re already proven wrong. Why rationalize to convince yourself? Hence, taking the loss when it's small, stops any possible internal dialogue.
Before I end, let me share with you.
The Bulls have defended significant support in June which is very bullish for the market. As long as support holds, the bulls remain in control of this market. As always, keep your losses small and never argue with the tape.