Broker Check

As I'm sure you're all aware

| March 19, 2020
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Our country, our economy, the market and for goodness sakes “all of us” are experiencing an unprecedented, “very scary” time in our lives.

In my 34 years working with the stock market, I (along with many known analysts around the country whom our office consults with daily) have never dealt with a situation such as the market dropping 34% in just 17 trading days!

Through the years, we (Saunders Financial) have strived to alert you when these things are about to unfold without the “media hype and scare tactics” as seen and heard on the TV and newspapers.

Below is an “excerpt” from our Client Blog posted on December 16, 2019:

Other than the market being in a somewhat “over-bought” state and approaching some of our “technical based” resistance levels (this situation typically invites some profit-taking) we do not see anything “glaring” to derail the market unless an unforeseen outlier event either domestic or geo-political takes place. Of note, the market has seemed oblivious to the ongoing “impeachment” proceedings.

Even though our blog indicated the market was in an “over-bought” state that invited a pull-back, we had no idea of the magnitude and rapidity of what was about to happen. Even our government is stating that this is an “invisible force” acting upon the market, the economy and all of us. This was and is utterly impossible for anyone to predict.

We have always attempted to give you relevant support/resistance levels where the market was likely to change direction, whether up or down. This time has been dramatically different in that every time we develop support levels, the “media folks” scare everyone’s pants off” and the market reacts by falling 1000, 2000, 3000 points in mere minutes and literally blows right through our support numbers.

As to the market, we cannot confirm that we have arrived at a bottom just yet given the virus uncertainty. Our support numbers for now are between 18000 to 16000 as measured by the Dow Jones Index. We will do our best to keep you posted on any changes.

It is impossible for us to contact everyone individually and is why we have always strongly encouraged you to visit our web site for important information concerning the market and always, always encourage you to call/email our office for an individual review/consultation concerning your account(s).

Lastly, given this extraordinary situation in the market, our country and the world as always, we strongly encourage you to visit our web site at www.saundersgroup.com or call/email our office to review your account for “one on one “advice.

 

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