Dear Clients & Friends,
On Monday we sold the position we entered into on Friday. Between Friday’s low when we bought in and the high of Monday, the Dow moved up 2,100. Although we did not sell at Monday’s high (in fact, not even close to the high) we made a small profit in a very short period of time and closed the position for safety. Although the abnormal movements in the stock market have driven our recent “short term” allocation changes, we continue to be long term investors.
In short, we made a few extra bucks, and have returned our allocation to where it was in the middle of last week. We continue to forecast a down market over the midterm, but will make more tactical moves if we see opportunities to do so.
Cheers,
MOR Wealth Management
Matthew Ramer, AIF® Principal, Financial Advisor MOR Wealth Management, LLC 1801 Market Street, Suite 2435 Philadelphia, PA 19103 P: 267.930-8301 | c: 215-694-4784 | f: 267.284.4847 | 601 21st Street, Suite 300 Vero Beach, FL 32960 P: 772-453-2810 matthew.ramer@morwm.com | www.morwm.com The majority of this content was written and distributed MOR Wealth Management, all rights reserved. Securities and advisory services offered through Commonwealth Financial Network, Member FINRA/SIPC, a registered investment adviser. Fixed insurance products and services offered through CES Insurance Agency.