The market has demonstrated consistent hate towards investors for the past 18 months. Look at the simple fact that we are trading almost in the exact same spot where the market ended on January 31st, 2018.
All the meanwhile, we have experienced a 20% bowel twisting decline in the market averages, with the worst of the downside volatility taking place smack in the midst of the holiday season. Quickly followed by a seemingly cocaine induced sprint right back up in the first few months of this year, just as investors were getting used to the idea that a recession was imminent.
As soon as everyone came to terms with the fact that a recession was simply media induced hysteria in the face of a declining market, growing comfortable with the idea of equity exposure as a way of creating a little bit of wealth in the months ahead, the S&P falls 5% from its highs in a rapid fire, "I want to stomp on your guts" manner.
The market is trying to kill investors in 2019. And this murderous volatility will only grow into the summer, as investors will have to deal with illiquidity, interest rate uncertainty, trade war rhetoric and all of the other maladies that seem to be percolating in the background.
It's a very simple act to move out of the way of a market on a rampage. And it's better to do so on your own free will instead of at wrong end of a bulldozer that only seems to be picking up speed.
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