Unlikely we see anything near this level of carnage - thanks to breakers and fact the big boys will try to co trip the slide and restore confidence so they can begin to get out themselves.
Timing the market is a dangerous game - at this time it’s just a game of buying a little and focusing on sectors. You cannot blindly buy QQQ, Mag 7 or whatever and collect profits. Industrials getting crushed - but that’s part of where I’d be looking to dip my toes in right now.
Ditto some consumer names - you think Nike, Chipotle, or other household names aren’t going to be able to absorb tariffs ? So what it the price of avocados goes up 100% - so instead of paying 25 cents per serving Chipotle pays 40 cents and still sells them for $4? Nike price of shoes goes up 200% ? So what - they still pay like $4 a pair and sell them for $200! Only thing that this is going to effect is the knockoffs - higher tariff = more enforcement.
We saw it last recession - consumers will focus on “affordable luxuries” - no one stopped buying Starbucks - they just stopped buying new cars, big vacations and buying homes.
Trumps comment that “sometimes you have to take medicine to get better” just perplexes me - wasn’t this the same guy who suggested injecting bleach and tanning with a UV light to cure COVID ? Maybe we shouldn’t be taken medical or financial advice from the good doctor emeritus of Trump University.