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Investing

Market Drop But No Surrender

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published

The Dow was down 370 points, or 2.7%. Nasdaq fell almost the same amount.

But, that was not the story. What happened at the end of the day is what was important. The market did not roll over and surrender. It bottomed at the end, but it did not collapse. The Dow did not give up another 100 points in the last 15 minutes.

That points the market toward Monday. The lesson of the ’87 Crash was that getting out on Friday was the right thing to do. Waiting over the weekend was a bad call

The smart money obviously does not believe Monday will be the end of the world because it held the line at the end of trading today.

Wall St. hopes that the trading in the last 15 minutes was based on the right sentiment.

Douglas A. McIntyre

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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