/ Terry’s Columns / Fed Acts. but Congress Delays (3/23 Pre-open comments))

Fed Acts. but Congress Delays (3/23 Pre-open comments))

By Terry Savage on March 23, 2020

While Congress is still trying to get its act together, the Fed basically opened the spigots to help small businesses stay in business. Great news! Instead of the market opening down more than 600 points, it now appears the market will open up a similar amount on this good news. Now Congress must act swiftly today, to enable direct payments to individuals, among other provisions.
Don’t get caught up in the wild market swings. There is no way to “time” the markets. There will be a lot of news every day, causing big swings every day. Only if you have risk capital do you want to decide that now you’re a trader, instead of being a long-term investor.

Three weeks ago, I was talking about “protecting profits”. But we are way past that point. Now it’s about maintaining your long-term perspective. Savage Truth: “Self discipline is the essence of all decision making.”

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