As of the market close yesterday, October 13, the PSEi continued its downward trend closing at 7,429.82. The main factor of the consecutive decline in the index is the weak earnings in the United States as well as multiple external factors.
As we all know, the PSEi is very much influenced by Wall Street, and the recent Wall Street sell-off could be factoring in to the decline of the PSEi. The Wall Street sell-off could be in anticipation of the upcoming US elections.
Again, to short-term stock investors, this is bad news, but for us in the Truly Rich Club, this is once again good news since it gives us a great opportunity to buy stocks at super discounted prices. With our strategic averaging method, we will be able to buy more stocks with the same monthly investments we do regularly.
Truly exciting times in the stock market these days and we remain confident that our investments and patience will bear fruit with the guidance of the Truly Rich Club.