Jerry, this market crash flag has been run up the flagpole too many times, and not too many are saluting any more.
So the Dow corrected, big deal. Hell, holders of Dow stocks ought to be thankful to have only corrected. Most of those 30 stocks are 1920's-style businesses, so it is no wonder they have had the worst January since 1920. The Wilshire 5000 is only down 3% for the year, and the Russell is up 8%. I won't even mention the Naz.
I think it interesting how AG's tired, old, methods of artificially manipulating the economy are mainly affecting those tired, old, companies that have not kept up with the productivity and technology gains of the new economy.
Do we all get scared at times? That comes with the territory, when we risk our capital. For me, I have a comfortable long term allocation that includes high flying tech stocks along with blended funds and cash, so I sleep well at night. The only thing I am not long in is oil and gold, but I can understand how holding that over the last decade might have made me a very frustrated and spiteful character. |
