The Long Investor

$NIO TOP 20

Added 2023-09-21 10:57:47 +0000 UTC

Nice day yesterday in a sea of red but likely just some relief after -17% from the previous day.

The market has been digesting Powell's comments and so far has not been reacting very well, there was only a few rare snippets of green yesterday and the PM looks similar today too.

I personally think that leaving rates unchanged and threatening to increase rates will be the Feds stance from here on. It is always best to have in their arsenal that they have no issue raising rates if the economy becomes overheated again, whether they use that option is another thing, I personally don't see why they need to raise rates again.

Inflation is coming down quite rapidly.....however, he is signaling that the the economy remains healthy, the market will not correct as long as this continues.

Wave 4 for the market may not be complete yet and September is historically a difficult month, what is different this year is that both August and September have both been difficult for the market.

Back to $NIO, I am not ruling out a drop to the 0.887 Fib for support before moving higher, a drop to $8.04 would bring us to the end of this month too.

My average is around $10 right now, so any more buying for me helps my average, so I will possibly add one more time once I see support.

Am I happy that my average with $NIO is at $10 right now?......absolutely I am.

Do I care that it has come below my average?......not in the slightest.

Has $NIO always been a long term hold for me?.....Yes.

If your strategy is different to mine and 90% of all the $NIO holders in this group, then so be it but take responsibility for own investing strategy.