it’s a sea of red ink. Another 1% drop. Jobs came in lower than expected.
An unnamed quant predicted we’re halfway to the bottom.
Since we can’t predict where this might end, the best “strategy” remains to let your Stop Loss Rule prevail: Sell those stocks that are plummeting the worst — especially specs and ones without the protection of high yields.
Some people see the markets as “buying opportunities,” though they’ve been disappointed, so far.
There are high-yielding stocks that are seriously enticing. Like BX, T, VZ, NLY and STWD.
It takes real guts to buy into today’s “blood in the streets” markets. Especially a market where gold is also tumbling. That’s backwards. Gold is meant to climb when stocks fall! Not now.
These thoughts are an awful way to begin a long weekend.
Better is to focus on things you can control — like your own business, your own job, taking care of the family, fixing things around the house and playing tennis.
And watch the US Open on ESPN, ESPN2 and late at night, The Tennis Channel.
I’ll see you on Tuesday. By then, I’ll be back in New York.
Harry Newton. There are lots of reasons this one has fallen so inexorably this year. But it is depressing when an icon like Berkshire Hathaway (which doesn’t pay a dividend) loses its icon status. Yuch!