Screenshot from http://finance.yahoo.com/The markets slide today. S&P500 dropped -3% and is below 900. It is slightly below the 200 day moving average which is about 900.76. Oil dropped -$2.52, at $67.50 a barrel.
The drop in everything is partly due to the World bank said that it expected the global economy to shrink by 2.9%. It's last prediction was 1.7% in March. When the World Bank is seeing worse in economy, one can guess the reaction in the markets - exactly what we saw today - selling from the rally we've had since March.
I see today as a reality check. Investors are jumping too far ahead of fundamentals. Less bad news are not good news.
Unfortunately to me, Apple (AAPL) is still very high at $137.17. Steve Jobs had liver transplant. It looks like there is a chance that he will come back.
When S&P hits ~850 or Dow hits just below 8000, the market will be 10% from it's year high. It will be time to get in.
The drop in everything is partly due to the World bank said that it expected the global economy to shrink by 2.9%. It's last prediction was 1.7% in March. When the World Bank is seeing worse in economy, one can guess the reaction in the markets - exactly what we saw today - selling from the rally we've had since March.
I see today as a reality check. Investors are jumping too far ahead of fundamentals. Less bad news are not good news.
Unfortunately to me, Apple (AAPL) is still very high at $137.17. Steve Jobs had liver transplant. It looks like there is a chance that he will come back.
When S&P hits ~850 or Dow hits just below 8000, the market will be 10% from it's year high. It will be time to get in.
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