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I'm not a doctor, but I read the CDC’s information on the spread of the Coronavirus. We should expect this will spread because the experts say it will spread. This isn’t two market pundits arguing about the direction of the stock market. Now that our initial buying was complete at the 10% correction level, the next step is waiting for a retest of Friday’s lows on February 28th.

While I want more than anything to see a full 20% correction taking the SP500 down to 2750ish - nobody said you would get that, or if the market would stop going down at that point. It’s just a point; it’s just a bear market correction level. All I can say is that the market will give you what it gives you and you have the opportunity to listen and take action, or choose to anchor on a past number that is as random as markets. So, if we saw a retest, or whatever you call it when I start buying again - what would I want to buy? Well, at this point I would like to add to my SP500 position and my Emerging Markets position to overweight them.

At the same time, I’m using this correction to reduce a some Europe and Japan (aka our EFA holdings). That’s all I know right now, and even that will change over time. You can also do nothing and ride out the storm. Because this too shall pass.

P.S. Remember you still have Democratic primaries infecting the market at the same time. What a week. And yes, I was having a bad hair day and only had time to hop in front of the camera and start talking!