Dear readers, I sold off my last US stock holding before the US markets crashed overnight (talking about a stocks markets crash prophecy!). To recap, the details of the US markets crash are a 2.37% drop for Dow, a 3% drop of Nasdaq and a 2.59% drop for S&P.
US markets crashed as a result of China announcing that it would impose trade tariffs on US goods and in turn, US President Donald Trump responded that US would react to China’s actions. Markets became jittery and equities were sold off.
The US stock Fastly which I sold off has had a good run recently and it was an opportune time for me to unlock value especially against this volatile time. Fastly was one of a handful of potential multi-bagger stocks which I have selected in my portfolio of “Selective International Picks with multi-bagger potential” though a core of my portfolio was still in the STI as defensive plays.
The current stocks markets is not bullish and not only it is not bullish, there are really a number of factors contributing to vagaries in the stocks markets. This kind of stock markets environment is good for some short-sellers but for long-term investors, it will be good to invest when the stocks market outlook is more certain.
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