World markets tumbled again on Monday, as oil continued to fall lower. Sanctions were lifted on Iran and Iran boosted its oil output! At the same time, Saudi Arabia is not looking likely to decrease its production.
Just last week, I wrote an article highlighting a call that I made in August 2015 for investors to get out of oil stocks. Almost 6 months ago, I was calling for oil to drop to $30 per barrel. Now, oil is below that mark. In addition to weak oil, global growth concerns have caused global financial markets to fall since the beginning of 2016.
My two portfolios on Marketfy have pretty much escaped the onslaught unscathed. Ecstatic Plays still has the highest portfolio value on Marketfy:
We are almost completely in cash right now. The market conditions are too volatile right now. I think we can afford to be more patient.
Good night and HappyTrading! ™