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Far from being a rout. Less than 2% off the DJ & S&P today. Bonds, gold and some REITS did well due to falling interest rates. Personally I've been hoping for a 10% or so market pullback as a chance to put a little cash to work.
However, if you just fell off the turnip truck, than I guess today qualifies as a rout.
Good post, hank. Totally agree with your observation. And blaming the current president's problems, real or fantasy, for the drop is silly at best. Many of us have been expecting, maybe hoping for, a 5-10% pullback to load up the truck.
I believe the article doesn't merely ascribe yesterday's loss to near term politics.
If you're waiting for a pullback, the question becomes what could be the catalyst for that to occur. The author indicates that the market rise was partly due to the anticipated tax cuts and other legislative items which were served up in hazy broad strokes by the administration.
If those legislative items are in jeopardy, there may indeed be a market reaction.
Comments
Regards,
Ted
https://www.google.com/#q=Stock+Market+Rout+Is+a+Reality+Check+for+Bulls
However, if you just fell off the turnip truck, than I guess today qualifies as a rout.
If you're waiting for a pullback, the question becomes what could be the catalyst for that to occur. The author indicates that the market rise was partly due to the anticipated tax cuts and other legislative items which were served up in hazy broad strokes by the administration.
If those legislative items are in jeopardy, there may indeed be a market reaction.