Today has been a rocky ride for the global markets. Many of the overseas markets fell as much as 5% in overnight trading as fears of US recession looms in the balance. The US Dow future already shows a 531 point drop at the opening bell singnaling a rough day for the US. Some say that the Bush tax cut is partially to blame by bringing fear into the markets. Personally, this is something that I have know was coming for more than a year. I have been waiting for the markets to recorrect for some time. Big corps have been way overbought and now we see the sell offs.
It is no time to panic though. We are not at some breaking point yet. I believe that the markets are just making huge corrections that were much needed. You can see gas prices and oil per barrel is falling which is good for the consumer. Gold is coming down which indicated a little more strengh for the US Dollar. The stock market will have some rough times, but I do believe we can pull out and end the quarter flat or just a shade below flat line. Then there is nowhere to go but up. February might be the last month of hard times.
Make sure that your portfolio is diverse. Do not imbed all your money into one thing. If we have learned one thing, it is that no one investment is secure. We are better off having many different investments. Good luck today and say a prayer that the traders do not panic too much. Lets give them strengh to make sound, rational decisions.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment