777 DOES NOT MEAN A WINNER TODAYWhenever I have been confronted with a bad day on Wall Street and the talking heads in the newsrooms are yelling at one another in exaggerated squeaky voices, I have gone to the graph of the Dow that begins in 1930 for perspective.
Yes I lost some money today, if I was going to sell something, but since I am not a seller when everyone is screaming that the sky is falling then perhaps I will be all right in the longer view.
The other perspective to take is when everyone is rushing past you saying, "Run, run, as fast as you can," perhaps you would do better to run toward them so that you get through the bad stuff faster. Be a buyer if you can. When stocks get hit hard by fear, rather than fundamentals, there are always some undervalued company that will reap rewards during a rebound.
I am not saying that I have not been concerned, only that when the stock market is falling precipitously that is probably not the best time to sell. What if you do sell, then what do you do next?
What is especially interesting is that this current condition is also tied to what Congress may or may not do. Double yikes! Since when has the making of political sausage been a healthy thing to watch. Not only are we getting national indigestion, we may not be able to eat anything after witnessing this scene. Personally, I could use a good diet, but I would rather not be forced into it by our national leaders during an election year. Oh, this could go on, and on, and on..........
2 comments:
so what's happening to the stock market? Hmmm, guess I'm had my heed in the sand. heh heh
Laws are like sausages, it is better not to see them being made.
Otto von Bismarck
Yes, that was the quote I was parphrasing or murdering. I just didn't want to look it up for attribution!
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