On August 2nd, 2011 - SBYnews posted a warning to our readers about the delusional state of affairs in Washington regarding the recent decision to raise the debt ceiling. We issued an official warning that a major correction was imminent.Well - I hate to be the one to say I told you so - but this was not a hard call to make. Our Congress has been out of control for so long that the recent decision to raise the debt ceiling is more like putting chewing gum in a leaky hole at the base of Hoover Dam.
The stock market is currently down 324 points as of this writing. It is down 558 points in the past two days alone. So much for Congress's assertion that the debt ceiling legislation's passage was crucial for maintaining calm markets. What is presently transpiring has proved otherwise!
5 comments:
we have lost abot 4,000 in the last 3.5 months. Our advisor says to not be quick in doing anything at this point.
I put my money into cash a few years ago and missed the last crash. While the returns were non-existent, I didn't lose anything. Bought back in near the bottom, and gained about 30%. Went back to cash in March, seeing things slowing down again. Looks like it's almost time to find new stocks once I see a technical correction. I'll probably also invest in a mutual fund that holds foreign investments to hedge against a weakening dollar.
If you are "all in" at this point, selling is probably not a good idea. You've already absorbed a lot of losses. With enough time you'll see your investments come back.
If you are sitting on cash, this might be a good time to invest some. As one of the Rothschild's famously said - you buy when there is "blood in the streets."
Remember - there are opportunities in every market. You just have to go looking for them.
For all of the posters who ridiculed me for my prediction - shame on you all.
I called it like I saw it when I first made the prediction - and low and behold it happened.
Obama is pleased with this his plan is working perfectly.
I trade my stocks in for precious metals, gem stones and fine art a couple years back. Knew this was coming when the "Worthless One" promised change. I am set well.
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