Scottie: It’s because of this fear of heights I have, this acrophobia. I wake up at night seeing that man fall from the roof and I try to reach out to him, it’s just…
Midge: It wasn’t your fault.
Scottie: I know. That’s what everybody tells me.
Midge: Johnny, the doctors explained to you.
Scottie: I know. I know. I have acrophobia which gives me vertigo and I get dizzy. Boy, what a moment to find out I had it!
Midge: Well, you’ve got it and there’s no losing it. And there’s no one to blame, so why quit?
Scottie: You mean and sit behind a desk, chair-bound…
Midge: …where you belong.
Scottie: What about my acrophobia? What about… Now, suppose, suppose I’m sitting in this chair behind a desk, here’s the desk, and a pencil falls from the desk down to the floor, and I reach down to pick up the pencil – BINGO – my acrophobia’s back.
Midge: [Laughing.] Oh, Johnny-O. – Vertigo, Alfred Hitchcock
Wow, it really does feel reminiscent of 1999/2000 with this market action here, huh?
Earlier this week when the stocks were down, I added to our Ciena and Juniper long positions. They are both up more than 5% today and are moving higher. I think they are both headed much higher this year even though these markets sure are getting vertigo.
I got my FSLR common stock buy filled here this morning around $37 and change and am happy with that entry for now.
Don’t get vertigo and stay the course. I wouldn’t try to time the top here. We’ve been positioned for this blowing bubble for the last couple years now but the only thing that matters now is — how best to balance risk/reward now?
Lots of you feel like you need to be doing something — anything! — with the market bubbling like this. You don’t. Let the emotions calm down. Be patient while others are greedy. We’ve got lots of upside (and downside) to go before this year, this decade and this career are over, you know? Don’t force any portfolio moves because of emotion!
Don’t forget this week’s Live Q&A Chat on TradingWithCody.com/chat at 2pm EST or send your question to me at email@example.com or on twitter @codywillard.