You didn't think I was going to discuss going down again in the sexual sense, did you? Nope, we're gonna talk equity markets today.
For those of you who remember me from my previous blog, you know that I am in financial services. More specifically, I deal in stocks and bonds. A challenging profession, to be sure, but interesting and I do enjoy the hell outta it.
What has got me down lately is how badly the market has been faring. For example, the Dow Jones Industrial Average (the average the news stations typically report on) is down from its early October closing high of over 14,000 to under 12,500. It has lost over 1700 points, or a bit over 12% in the past 3 months.
There are several reasons pundits can point to as the cause for the shaky market, including the lousy housing market brought on by the sub-prime mortgage crisis. High energy prices certainly aren't helping, and just yesterday the news came out that inflation was the highest it has been in the past 17 years.
Those are valid reasons, but if one is going to be successful in this business, you need to look past the bad news that everyone all ready knows. In other words, will any of this crap mean one iota 3-5 years down the road? Nope, not even a lil bit. If you're a long-term investor, I would stand my ground if you're confident that you're holding solid securities. If you're a trader with a shorter time horizion, get ready, cause we're fixing to rally hard within the next week or so. I can't tell you exactly when, but when you see a day in which the market gets hammered yet again in the morning, then reverses to close higher above the previous day's high, I would buy stocks and bank on at least a 5% upward move.
That's my story, and I'm sticking to it.
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- My world has been turned upside down, but I'm working my way through it...
5 comments:
What's the url of your older blog? You didn't delete it because of your EX did you?
I deleted it because I grew tired of it back when...
I copied and pasted most of the posts, however, so perhaps I may post a few here...
I'm confused...I need you to remind me of your old blog. The "bent" name is very familiar, but I've got a bad memory and I need a push. Email me when you get a chance.
Getting back on topic, I could use some investment advice. Looks like you're the man to give it!
Dam, I bet the old blog was juicy as hell. You literally deleted? Was it on blogger? Do I know you from your older blog?
Hey Chuck, you may remember it, tho I don't think you were on of the 'regular' readers. It had the same title as this blog, but the url was a tad different. Investment advice? I can sure give a few tips when it comes to those things financial-related, but the way this market is going, it will be at zero soon and we won't have to worry about it! lol
Upset One, I don't think you read it at all. It was on blogger from about mid-July of 2004 to the beginning of 2006, I think. As for the writings on it, yes, there was 'juicy' stuff if you consider telling of the sexual exploits juicy. Quite a bit of that, plus my musings on a bunch of different crap!
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