Good Friday to all.
Well, as I post this, the market is down 603 points (down 4% from the market high). Is this the end of the world????
No, it is not, our economy is doing better than it has for many years and believe it or not, the market is using this as an “excuse” to sell off (more folks working, lower unemployment numbers).
In our opinion (and many other analysts as well) the “real” reason for the sell-off is the market has been in a parabolic rise for quite some time and many investors and institutions are taking profits. Surprise, surprise.
At this time, we are not concerned unless the market (The Dow Jones) was to sell off much more than the 24000’ish level (which would represent a 10% correction).
If this were to happen, we will post a blog with more detail and suggestions as to what actions you should take.