The stock markets took a tumble this past week on a bevy of poor economic reports, news that retail sales slumped for the sixth straight month, and deteriorating credit quality and record losses in the financial sector.
According to Briefing.com, for the week, the DOW ended down 3.7% at 8281, the NASDAQ down 2.7% at 1529 and the S&P 500 down 4.5% at 850.
Investor’s are starting to feel anxious again and market volatility is picking up. As a matter of fact, I found a few moody investors telling me that they are just about ready to bail out on this see-saw of a stock market because of the persistent anxiety, volatility, and unrealized losses. [lyrics]
I’m just an individual investor pharmacist, so who am I to give financial advice? But, if there was one thing I could share with these Moody, Blue investors, it would be “grow a pair, Nancy”.
If you’re a “buy & hold” investor or have your savings allocated into stock index funds in your 401k plan, hang in there for the long term. This would be the worst time to bail out (no pun intended) of the stock market. Things will turn around soon enough.
Rewards come to those who persevere. Don’t act like a Zombie and listen to what others are telling you. Stick to your plans, Hold Your Head Up. Even if they shout, don’t let them change a thing that you’re doing.
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