Tuesday, October 4, 2011
Choppy Seas for the U.S.S DowJones
The focus in this posting is the market. Its going down.. continually down. Certainly it could have a major rally tomorrow or the next day since markets don't travel up and down in perfect straight lines. People will tell you to keep your money in the market. Others will clamor that this is the perfect buying opportunity. They are both mistaken. This is a time to sell and if you Must be investing, then give yourself a 'holiday' of a couple weeks and see where the market is at on November 1st.
Last Wednesday, September 28, the Dow opened at 11,268.
As of 2p today, October 4th, five trading days later, its at 10,522.
In about 5 business days it has dropped 746 pts., with every day ending lower than the previous day's tally.
If you prefer looking at longer trends, how about this:
Three months ago today, Tuesday July 5th, the market opened at 12,569
And while morons like Jim Cramer and the rest of the cackle at CNBC were screaming to buy! Buy! BUY!, in the last 3 months, the Dow has LOST 2,047 points or a little over 15% of its total value.
Ultimately, its a free a country and you do with your money as you wish. We don't care if you buy gold or silver or invest in this or that.. We have nothing to sell and don't profit in any way. But we're concerned- we believe this will be a bad October as the month usually is when it comes to market volatility. The situation in Greece and the US' economic stagnation, makes the 'waters' even choppier.
We advise this- if you're invested in the market, get out. And if you choose to ride the storm, at least do so because you choose it, and not because someone on TV or your broker is advising.