At this level, those swings are not that crazy. In numbers, yes. In percentage, no.
“At this level, those swings are not that crazy. In numbers, yes. In percentage, no.”
I have an old New Yorker magazine cartoon that I cut out in the 70’s.
It’s set at a bar - two bartenders are obviously very busy with shakers in their hands and a bar full of suited men with dowdy faces...all needing drinks.
One bartender states to the other: ‘Crazy days! The dow up 17 yesterday, down 22 today!’
It’s funny the things they attribute market swings to. Everything, they figure, is caused by something, so to keep our phony baloney jobs, we blame fears of interest rate hikes (Does anyone really believe we should stay at zero interest? Give savers a little reward and provide a cushion for the next time the economy needs a boost.), the Nunes investigation which has gone on much too long to be any sort of financial tipping point, or the numbnutz who blamed the tax reform for it.
Sometimes the timing of a market move can be attributed to a particular event. Most of the time, that is not the case, and these idiots are just that: Idiots reading chicken entrails who, if held accountable for their blithering prognostications, would have been jailed for fraud long ago. It’s astrology with money.
Think of the market today as, “Wall Street is having a sale,” and buy into it. Trump’s policies and the underlying economic boom that is forming will reward you well for it.