With fears of the spreading virus, its lead to panic selling with the Dow Jones down nearly 3,000 points this week. We are entering correction territory and total uncertainty with how long this will last. Nobody ever knows and the so-called experts can’t even tell you. I will share with you what I plan on doing.
Week Ending February 29th
Warren Buffett invested every year since he was 11 years old. And he’s been through some tough times. I don’t plan on stopping either. I bought some stocks this week with Verizon dipping down to $52. I also bought Disney at $118. They had to close their parks due to the virus scare. Business is hurting right now, along with a lot of other companies. I bought some Walgreens. They are around a 52 week low but pay a solid dividend.
The Weeks Ahead
If the stock market continues to go down, I plan to look for more buying opportunities. But I’m not going to splurge all in one week, because I don’t know how long this free fall will last. I want to have funds ready for the following weeks if the downturn continues and I could dollar cost average. So, I will monitor the news and the market next week and if some more deals emerge I will make some additional moves.
I wrote in a previous article that this year is an important year to be a little heavier than usual on the cash side. This week was a good example of why. Stocks have been so high lately that you never know when a correction will happen. The CV scare is affecting a lot of businesses and could continue to for months. But as a long term investor, I’m going to continue to invest and look for deals.