Buy Buy Buy...
right when all the clowns are freaking out you buy?
Fibonacci support at 11,500 has failed. The next retracement will take the Dow down to about 10,000. If that holds, buy. Otherwise, if that fails, the next retracement level will be 7500.
This goes to show that the frantic denials by selected FReepers will not keep the market from dropping.
Okay, how about $1000 worth of GM stock? Anyone? :)
Yup! That’s what NASDAQ buyers said in early 2001. And mid 2001. And late 2001. And again in early 2002. Still said it in mid 2002. All the way to the bottom.
I know people who have not invested in equities since they lost their life savings in the NASDAQ. Most of those people were around 30 years old at the time and life savings were only $20,000 to $60,000. But they never got back into equities. They just don’t trust them.
Then again, what have they lost? How many stocks are above their 2000 levels? Not a hell of a lot.
Yup! That’s what NASDAQ buyers said in early 2001. And mid 2001. And late 2001. And again in early 2002. Still said it in mid 2002. All the way to the bottom.
I know people who have not invested in equities since they lost their life savings in the NASDAQ. Most of those people were around 30 years old at the time and life savings were only $20,000 to $60,000. But they never got back into equities. They just don’t trust them.
Then again, what have they lost? How many stocks are above their 2000 levels? Not a hell of a lot.