From Dow Jones News Service:
NEW YORK (Dow Jones)--U.S. stock futures dropped Friday morning in what's expected to be another volatile session, as fears of a Greek default and the U.S. economy spiraling into another recession continued fueling investor trepidation.The DJIA is down 78 points as I type (0823 hrs MDT). Aiiieee... my poor 401(k)! I'd been planning to withdraw a few pennies from my 401(k) before the end of the year to cover some discretionary purchases, like a new big-ass teevee. It looks like I'm gonna have to re-think that.
Dow Jones Industrial Average futures reversed overnight gains and recently dropped 38 points, or 0.4%, to 10612, although futures recently moved well off earlier lows. The Dow has plunged 675 points in the last two sessions and is on pace for its worst weekly drop since the depths of the financial crisis in October 2008.
Standard & Poor's 500 stock index futures lost 4 points, or 0.3%, to 1120 and Nasdaq 100 futures declined 5 points, or 0.2%, to 2170. Changes in stock futures don't always accurately predict stock moves after the opening bell.
Everything will be ok. Someone will spread the rumour, again, that the Chinese or the Japanese will buy up all the Euro debt and the market will skyrocket. It will all be a lie, but that's not important.
ReplyDeleteWhen it goes up next week, sell like you've never sold before.
I'm trying not to watch the markets. One thing I learned early is to think long term. Unfortunately remain in an investment too long means that it is sometimes too expensive to sell, except in very small increments.
ReplyDeleteMayor: I'll sell... if there's anything LEFT to sell.
ReplyDeleteSkip: I've written on this subject before, but it's these "late in life" hits that hurt the worst. There's not much "long term" left...
Go for the big TV! Damn the torpedo's....Use the money before someone else snaps it up.
ReplyDeleteWe bought the big-ass TV last T-Day during a big sale. I really like it. Once again, I'm with Scooney on this one.
ReplyDelete