Originally Posted by
Baa_Baa
There's no doubt things have turned after such a long bull run, but in the scheme of it, the reversals so far generally speaking are relatively minor and still consistent with a correction rather than a crash.
Nevertheless, if one looks at the subtle changes in the rhetoric of distinguished posters and taking into account the actions of the few who choose to disclose their strategy and actions, the theme seems to be preparedness.
It might get better, it might get worse, but being prepared is the hallmark of an active investor, having a plan regardless of which way the markets move. Having a strategy, and a plan to execute that strategy is paramount, but perhaps not familiar with many who have enjoyed and only ever seen a market that goes relentlessly upwards.
What we investors or traders do in the downturns possibly defines us more than what we have done in the upturns. Either way it certainly defines our individual end-game, when we count our chips and ask ourselves what would we have done differently.