The market has been performing poorly this past several month. My portfolio is down a great chunk. It would have been better if those money were sitting in a high-yield savings account. I’m thinking of going more towards cash if the market continues to decline.
What’s your view on the market’s performance over the next five months?
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The market will continue to slide as the price of crude oil goes up. The looks of it, it looks like a bear market and a slowdown is in store.
Actually, now is probably a good time to buy mutual funds you expect to hold onto for an extended period of time. I did so a couple of years ago when the market took a real dump, and even bought a bit during the dot-bomb meltdown. Those funds are up nicely.
Don’t try to time the market, but keep some powder dry for buying opportunities.
I would agree with the other two comments – I don’t see an upswing in the market until we get our energy crisis under control.
With most of the big online savings banks (EmigrantDirect, HSBCDirect, etc) offering more than 5% APY, a cash savings account with one of them might not be a bad idea. 5% is nothing to sneeze at!