Stocks Take A Tumble on 20th Anniversary of Black Friday
Call it coincidence or call it planned, it happened! The stock market went south pretty much straight out of the gate and it brought back memories for those that were around for Black Friday. I guess October isn’t a good month for the stock market, but even with the 367 point drop in the DOW today, I wouldn’t leave this market for nothing!
Economic fears are leading the way for the struggles in the market right now. Trucking and Oil prices are a concern right now, but I don’t think we are ever out of the woods totally from the market fears. This is not the time to cash in on the profits you might have made over the last few months. It’s an opportunity for buying and buy a little extra if your specific sector or stock has took a slip over the last few days.
Big things are still ahead and the retail stores are going to lead the way in a hot market as Christmas nears. We might lag a bit from earlier projections of a strong finish to the 2007 year, but hang around if you plan to be invested in the 2008 year. This market will recover by year’s end and most will see profits once again in January if they don’t in 2007. Just remember to take advantage of buying opportunities and this is exactly what the market has done for many shareholders today. It created a buying opportunity and pay attention to the fears, but don’t let them make your decisions if you’re invested for the long haul. This market will do much better in the next 20 years; compared to what it did after Black Friday 20 years ago!