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What’s Up With The Stock Market?

Nothing. That’s right the markets continue to hit new bottoms today and I don’t see it getting any better (no, I’m not Chicken Little). The S&P 500 fell below 1,000 which makes it the lowest level in five years, closing at 996.23. As for the other two major markets, the DOW closed at 9,447.11, falling another 508 points (-5.11%) and the NASDAQ sheds off 108.08 point to close at 1,754.88 (-5.8%).
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I don’t know about you guys, but I’m looking to the shopping spree that I’ll be going on in just a few days to weeks. Every stock has taken a big beaten throughout this debacle, some that shouldn’t be punished because of the fear factor that has entered the markets.
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I suggest that you really get down and look into the best of breeds and decide which ones you want to get into. The time will be soon and for some stocks the time is now. You can’t go out there a bottom fish for the best price. We are at levels that won’t be around anytime soon. Start looking to make a position and be patient.
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If you’ve been reading this blog for any length of time, you’ll know that I do expect this market to continue it’s tailspin, but that doesn’t mean that I won’t be buying investments at these levels. The money that I’m investing right now won’t be needed for another 10-15 years, so for me I’m setting myself for huge gains in that time frame.
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If you plan on retiring within the next five years, don’t jump out of the markets now since most of the damage is already done. Instead move your investments into sector that hold up well in a recession. Consumer staples and healthcare are the best place to sit and wait for the turn-around.

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