The DOW is down about 600 about 700 about 370 right now. Yahoo Finance has the bad news. UPDATE: what a bumpy ride. At one point it was down 748 on my screen and ended up down “only” (Yahoo Finance’s headline) 370.
Here’s the deal: many of us are afraid. That fear is changing our behavior (I’m hoarding, aren’t you?). That causes the market to go down.
How does the market stop going down? The death spiral will have to hit the bottom of our fears.
Where do you see the market hitting bottom? I think we’ll test 8,000 by end of the year (some people say probably by the end of the week if it keeps going down line this).
As they say, we have only to fear fear itself. Hope you’re doing OK. This is looking like one heck of a nasty storm on the horizon, isn’t it? 2009 is looking like a pretty tough year.
Anyone have any positive news to get us off of our fears?