This is the post from Hello Suckers
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[tag]Dow[/tag]
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–427.47 | -5.07% | 7,997.28 |
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[tag]Nasdaq[/tag]
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-96.85 | -6.53% | 1,386.42 |
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[tag]S&P[/tag]
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-52.54 | -6.12% | 806.58 |
The [tag]stock market[/tag] suffered another huge [tag]sell-off[/tag] today. Volume was light, however Dow ended below psychological level of 8000 points and erased all gains since April 2003. The path to lower levels is now open. Tomorrow we may expect some recovery, but it seems like we are heading more south.
If you are thinking, that this would be the best time to [tag]start buying[/tag] [tag]cheap stocks[/tag], I would warn you. We still didn’t reach the bottom or at least we do not know whether we did or not. All major [tag]stocks declined[/tag] today even though it seemed that they couldn’t go lower anymore. They could and they would go as bad news would reach this [tag]volatile market[/tag].
Tip: There is nothing more to do than waiting. If you are good in [tag]shorting stocks[/tag] (I do not short yet due to lack of experience), you can consider shorting stocks. Otherwise the best we can do now is to [tag]save more money[/tag] to be ready for next rally, study [tag]stocks[/tag] and market, create [tag]emergency account[/tag] if you still do not have it, do not open any new positions, build a [tag]watch list[/tag] and wait for the market to tell when it is the best time to start [tag]buying stocks[/tag].
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