Every Time I Want Out They Pull Me Back In
If you wanted an out, then the market is giving you a gift today. Dow futures are up 600 points and the 1987 crash callers are now changing their tune. We are not out the woods yet, the reaction we see today is an example of what the market does; it goes up AND down, not up OR down. Nothing goes down in a straight line or up in a straight line. A lot of people panicked at the open, sold and lost some real money. These will be the same people that will shy away from the market for a long time because they felt robbed, violated, etc.. But the real story is that they did not have a plan. Instead, they followed the word of a blogger or bloggers that have no idea what their particular needs are.
Now is a good time to prune your stocktwits/Twitter followers and your blog reader. Get rid of the fear mongers, conspiracy theorist, etc.
Start to think about what you will do if the market revisits yesterday’s close. I believe that there is a good chance that will happen between now and October.
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