by Anura Guruge
Chart for “Salesforce.com” (CRM), on June 24, 2016 — day after Brexit. From “marketwatch.com” of course — who else? Click to ENLARGE and marvel.
I stayed up till 1:30am (Eastern) watching the Referendum results, LIVE, on BBC 1 on my Roku, “UK TV” channel. [To my disappointment BBC election coverage came across as primitive compared to what we have got used to in the U.S.!]
I was surprised by the result and I really do have genuine, mixed feelings. I am not wildly euphoric that we voted, in a non-binding referendum, to LEAVE — though, deep, deep down, my sentiments are with LEAVE, which is how I voted, 41 years ago in the 1st Referendum.
I don’t believe that this is a done deal and a lot of water will flow under the collectives bridges of the EU before we see anything definitive 2.5 years, minimum, from now.
That the markets reacted the way they did was hilarious to I. It is crazy. Why sell stock today? What has changed?
But I was glad. I had been waiting, biding my time, for a pullback of this magnitude. SMILE. That is what clever investing is all about.
Was on Fidelity at 9:30am. I had NOT factored in that Fidelity would be slow! I should have remembered from past days like this. But it wasn’t too bad.
I wanted to buy more “salesforce.com” (CRM) and “Facebook” (FB) shares — some for the kids. Got it done. I was all done by 9:35am.
Why would AMZN go down $20 in the day? How will Brexit impact AMZN? I don’t think it will. Strangely AMZN options, my bread-and-butter, were not cooperating. Shame. But that is OK. I am not greedy, never was.
More on my feelings on Brexit in another post.
But for now, SMILE. SMILE. SMILE.
P.S., If Scotland AGAIN tries to break away I will be beyond bummed.
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by Anura Guruge