The VIX spiked massively today as the market reacted to what felt like a confirmation from Powell that we are likely on pause for rate cuts until further notice.
Guiding just 2 cuts for next year, high risk stocks sold off very hard today.
For me personally, being on the sidelines and cash heavy was very difficult the last few weeks.
Being patient and not chasing stocks is a lesson I've learnt the hard way too many times...
I took a position today in the Nasdaq near the closing low, and will now begin to find some opportunities - especially if the market continues to sell down.
Feeling a bit vindicated in my cautionary language the last few weeks...