It’s amazing that I take a day off to spend the day with my daughters only to find out that the market tanked again. What I’m amazed at is that people that I speak with are shocked by the reaction of the markets. On Monday the Libor rate eased and there was talk that the landing market was opening up. Then on Tuesday it was talk about the world recession that is becoming more inevitable.
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Now for this morning the markets opened down by 200 points and ahs dropped as much has 350 points. So for the first two hours of trading, it’s been some what holding at the 8700-8800 level on the DOW.
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The big talk that’s going on now is the global economy. We on the whole are poised for a recession all around the world, which is nothing new to me since I’ve heard that for the last few months. The funny thing about all of this is that yesterday when I took the day off, my family and I went to Disney World, there didn’t seem to be a recession going on there. For a day that wasn’t a national holiday or even the normal time for vacations, the place was full. I did notice that there were many international visitors in Epcot.
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What I trying to say is that Wall Street as well as Main Street don’t really know what’s going on and because of that there is a lot of uncertainty in the markets. This will continue for some time, how long is really anyone’s guess. So don’t be surprised by the day to day fluctuation in the markets and make your trade carefully.
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