Friday, October 10, 2008
Black Friday
This graph shows the last six month how the DOW has tracked. All the economic indicators were there as early as January and signs finally hit the markets like a freight train. I wish the news was better but it is not. In my opinion, panic selling is driving this downturn as people try to cut their losses when in reality their hitting the panic button will cost them more over time and the savvy investors will cherry pick the markets for bargains once this crisis passes. That is my plan anyway.
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So many people invest life sheoples. If you aren't into the homework and have a low threshold for risk, you should stay out of the market.
My mother is in a mild panic but Dad got much of his money out in the spring though he left a substantial amount in still too. He was always a long termer which is ironic now that he is dying. Still, he is leaving Mom far better off than most will be when all is said and done.
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