Today, the day after I said I was very bullish and that no recession was in sight, the DOW plunged 1,175 points, or 4.6%. It was the single biggest point drop in the DOW’s long history! But of course in percentage terms, it was just a blip that doesn’t even make the top anything list. With the DOW at such record levels, comparing absolute points is senseless.
All the stocks plunged today. Globally.
The reason is very simple, there is no need to over-think or over-analyze this one…
well I’m sleepy so I’ll finish this blog another day…I’ll post the data I was going to talk about for now….
However, I’ll preemptively add my conclusion before you even get to see the explanation. In the words of boy-band wonder N’Sync, “Buy Buy Buy.” (It brings me great embarrassment to have to use this music as a pun). This is a great longer term buying opportunity. A month ago everyone was wishing the market would pull back so they could get in. NOTHING has changed. Only the frenetic panicking of toothless, bald, over-weight, pungent, greedy-grubbing, menopausal men, who don’t have the balls to stare down a fearful stampede without blinking, sold today in the panic hour. Fools. In fact, I hope it goes down a little more this week to get in even lower. In any case, buy some tomorrow and perhaps more later.
You’ll thank me in the coming months.