Ah, the markets are back down again. I forgot to prognosticate last night, and it would have been down again, but not this far. So much for my missed calling.
It seems there's some kind of amplification going on, a smaller version of which is the normal case with the markets; people see activity and they replicate it. But really, it's gotten to an outrageous level. We get a bad retail report and everything tanks? What a bunch of sissies. Everyone's so afraid of losing the value they just gained back so they cash out, which makes others cash out, and so on, until all the recently regained value disappears. It's just silly. If those first people would just refrain from cashing out, the markets would rationalize and things could get going again, a little dip here, a little jump there. Not these exaggerated swings. The market needs some BuSpar. :)
Mind you, we're still up from the weekend. And some individual stocks are performing pretty well, all things considered. If the freakouts would stop, I feel pretty confident that things would get back to normal, even a recessed normal. And frankly, I'm solidly in the group of people whose financial future is being shaped by these market happenings, so yeah, I have a stake in these matters.
I'm trying to focus on apps until the debate, I'll be back later no doubt.
PS: Tomorrow's market, I'm afraid, is going to be worse, if that is possible. Early-week gains may get wiped. Just sayin.
Petition of the day
2 hours ago