Market Drop But No Surrender
October 19, 2007 by Douglas A. McIntyreThe 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
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.