was about to get in, glad I decided to research my options a bit longer. Once this down tick is done, it is going to be a good place to get in. I have some positions in some REIT stuff, I am curious to see how they weather the storm.
It is time for a correction - been over 150 days since a 2% correction (which isn't really a "correction").
This is a tricky situation. Its hard to do technicals on a situation where there are probably still tons of more sell orders that will hit at the open of the market. I think we'll see a slide tomorrow, next major support lies at 11800 with the 200 day SMA.
400 points sounds like some sort of huge crash but is really only around 3%. It will most likely be recouped in a few days. But then again, maybe it will continue to tumble all the way down to 11800 like LinkSales says
I personally think the stockmarket has reached levels that cannot be sustained for tool long. All the good news is priced in already. Yes, we may briefly go back up to lastw week's highs because thats what often happens, but over the medium term we will see a bear market taking hold because of too much uncertainty over the global economy and with Iran. I think its time for somew yo-yo action but on a downtrend over the medium term. Ithink the DOw will soon break below 12,00 and will approach 11,000 the coming month or two.
Luckily the market balanced out today, yesterday happened due to a sell off in the chinese market due to a 20% tax hike on capital gain
People are making such a big deal out of this. They are exaggerating. Yes it went down 400 pts but it will slowly rise up again. The market will do well this year (hopefully if we don't enter a recession later this year)
i kinda agree with bestmiler, though the market went down, it had to happened sometime you know? it'll jump back later i think.
When you have money invested, the natural thing to believe is that market will rise even if there are major hurdles such as geopolitical issues in the way.