You sold the market because of Jeffrey Gundlach. You dumped all of your stocks because he said there was 2% upside and 20% downside.
What do you do now?
Can you call him? Can you get him on the phone and say, "Hey, chief, what do I do now, should I get ready for the big decline?"
Maybe you should ask the famed money manager who was saying there would be big bankruptcies in the oil patch whether there still will be now that oil's gone higher? Maybe ask him about the Goldman call to get more bullish about oil?
Maybe he will tell you he's gotten more bullish and that he was wrong? Maybe he will give you some long ideas? Maybe he will say, "Hey, come on, that's just what I was thinking at that moment, I wasn't telling you to sell everything." Maybe he would tell you to double down and short this gain?
No, I will tell you what he will tell you: nothing. Because you cannot call him at 1-800-743-CNBC. You can't tweet him. You can't get to him. And if you did, he doesn't owe you jack. You are nobody.
Which is why I always say, be your own guru. You do the work. Because right now if you sold, you have no idea what to do. If you dumped your Allergan (AGN), you just missed 3%. You sold your Dow (DOW), it's 4%. Wouldn't you have liked that 7% in Continental Resources (CLR)? (Allergan and Dow are part of TheStreet's Action Alerts PLUS portfolio.)
Yeah, no kidding.
Hey, maybe he will come on TV again and you can do what he says again? Maybe he will grant a network an interview.
But then, maybe he won't.
Don't be a sucker. Take your own counsel. Do your own work. Don't be freaked out by anyone.
At least I have to answer to my calls. But not Gundlach. He answers only to Gundlach, and as great as he is, you can't ask him to do something he doesn't need to do: answer to you.