Stock Market Crashes with Crimea Invasion
"Hey Rob, it's time to pack it up and get on the road" my wife hollered from the other room. Quickly, I checked my online brokerage account. The shock was almost palpable, my account was about 3/4 of the value it had been on Friday. "I have to check something, give me about 15 minutes" I called out in return. I quickly checked a few news sites.
We were visiting my Brother-in-law and his wife, my wife's younger sister. I love them so much! We both love visiting, not just because there aren't any nicer people on the planet but because my two granddaughters and three great nieces live within 10 miles and I love playing with them more than anything else on earth. We always have so much fun when we visit, about a 6 hour drive each way, that we don't watch much TV and no news. So, I didn't know that Russia had invaded Crimea.
The USA didn't have much business relationship with that part of eastern Europe as far as I knew. I did some more searches, just to verify that. Nope, didn't see any US companies with exposure there. Still the DOW was plunging.
So, I placed a buy order below where it was at that point, plus another buy order 200 points below that. All of that took about 15 minutes. I told Pam, my wife, that I was shutting down and packing up.
We hit the road without a care regarding the stock market. If my orders were filled I would be richer, even if only one of them was triggered. I knew that the stock market investors would see things my way eventually. They would buy with both hands once they realized that the incursion wouldn't effect us at all. I knew that the market would rebound and I wanted to be positioned to take advantage of it.
The upward bounce started even before we got home that night. Both of my orders were triggered and it bounced to above my first limit order. So, both positions were in profit, plus all of my other positions were back to profit as well.
The upward surge continued Tuesday morning with a sizeable gap.
There are so many ways to trade the market. Most of my positions are options but there are also many ways to be invested in the market. I teach all of this. I can teach you too. To take advantage of my free consultations, fill out the form on the right and put in the comment section, free consultation.