Well, I didn't get the dead-cat bounce I thought we might get during Monday's trading action. Quite the opposite: stocks tanked. Volatility spiked. Almost everything was in the red.
It's starting to feel like 2008 again. Except with more wars and civil unrest.
On the other hand, we're only talking about the last couple of months worth of gains being wiped out, so we haven't actually seen much carnage yet. During the 2020 Covid crash, the S&P 500 lost about a third of its value. So far during this correction, the S&P hasn't even declined ten percent from its recent high. Not time to panic yet, nor is it time to buy.
This calendar year started out slow and dull, but it's shaping up to be a wild one down the stretch. Steel yourself accordingly.
No comments:
Post a Comment