As I am writing this, the Dow Jones is down nearly 180 points.
Sounds like a lot, right? That’s about 1.5%
By comparison, October 19, 1987 the stock market dropped 22% in one day.
Perspective does matter.
Anyway, the last few days, I’ve seen headlines like:
– Greenspan Thinks U.S. Heading Toward Recession
– High-Risk Lending Companies Wiped Out?
– Stock Market “Priced To Perfection”
– Bomb Goes Off When VP Cheney Visits Overseas
– Oil Trading Up Again At $62 Today
– Lousy Durable Goods Orders Today
– China Stock Market Sells Off Big (8.8%) Overnight
Look, pick your poison. Doesn’t matter which headline above floats your boat, the market is down. For the day…not forever.
The indicators I use to manage the risk in your account tell me this market is still on offense. This *might* be the beginning of a move down…or it could be a day to go fishing. Or shopping.
Nevertheless, when the indicators tell us to change, we’ll change. We won’t be the last guy left at the party.
Oil is heating up, precious metals are flying again.
If you have questions about anything we are holding, ASK.
Stay Tuned. It’s getting interesting.