August 2, 2022 9 am eastern before market open

Friday’s market capped a strong week and a strong July.

The debate now is weather July was just a bear market rally bounce or the start of a market recovery or at least plateau.

I don’t know which. Markets are always subject to a possible big decline and so we should always be prepared for that. Either maintain a significant allocation to fixed income or cash or be prepared to accept big volatility. I don’t think the idea of anticipating declines and getting out is feasible. As far as stocks we should mostly own stocks that we are happy to own for the very long term. Getting in a position where we sell in a panic is not a good plan.

Canadian stock markets were closed on Monday  while the U.S. market was down 0.3% and I did not see any big moves on the U.S. stocks that I follow.

Markets are set to open lower this morning.

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