It’s been a very interesting month! I almost purchased a large quantity of stock this month, but it didn’t end up working out. In case you’re interested, I placed a limit order on May 6, when the stock market nearly instantaneously lost almost 1,000 points. I noticed that certain ETFs I was watching had plunged relative to the 4% market drop. I raced to log on to my brokerage site and was fortunately able to place a limit order. But I was a few minutes late and it did not trigger. Had it triggered, I would have bought the ETF at the March 2009 lows. What a missed opportunity — that was a very, very exciting day.
I’m not sure how I feel about the market these days, with the EU bailout passed. In my gut, I still feel like the market is overpriced. But I don’t feel as strongly as I did before, when the Greek crisis was looming. I feel like the next large market gyration may be delayed a few years, when the U.S. is forced to take its own austerity measures or lose its AAA credit rating. What happens if inflation hits instead to make it easier for the government to pay back its debts? I guess the stock market will still take a hit. Anyways, bottom line — I hate sitting on the sidelines. But I can be a very principled person. I quit TV and Facebook based on principles and I refuse to let talking heads dictate how I invest my money.
On the spending side, this month has not been as good as previous months. Yes, the smaller rent payment helps, but this is a multi-special occasion month, so naturally I will spend more. Fortunately, my net worth increased even though stocks fell over the past month and I have increased spending.