On Wednesday, I wrote about the ups and downs of the market and how that affects the way you invest, sleep and keep your sanity. Well, everyone is being tested after today with the DOW closing down -311.50. WOW!!
Well, this is what happens sometimes. The markets have been going crazy all year long and everyone kind of knew something like this would happen and more could be coming, we’ll see.
But not to worry. If you’re a new saver and mutual fund investor, then this is part of the show. This is where you start looking at what mutual funds lose the least in times like this but make the most in the up times.
If your a trader or someone who buys and sells stocks for the long haul or short term, there will most likely be some stocks you’ll be able to get into cheap that you’ve been waiting for.
If you’re an options trader and you watch the volatility jump all over the place because of all this and the swings that are most likely to follow, then there will be nice opportunities to grab some profits from both Calls and Puts.
Talking about Puts, wouldn’t it have been great to be in some of those today? Puts allow you to make money as stocks go down. You heard me right. Again, I need to put an Options definition page up soon.
I hope you can stomach all this and stand strong for the long-haul.
Here are some quotes on perseverance to keep you going:
“Our greatest weakness lies in giving up. The most certain way to succeed is always to try just one more time.“ – Thomas A. Edison
“Perseverance is a great element of success. If you only knock long enough and loud enough at the gate, you’re bound to wake up somebody!” – Henry Wadsworth Longfellow
“A diamond is a lump of coal that stuck with it.” – Unknown
“Take time to deliberate, but when the time for action has arrived, stop thinking and go in.” – Napoleon Bonaparte
“The wise man bridges the gap by laying out the path by means of which he can get from where he is to where he wants to go.” – John Pierpont Morgan
“Buy when everyone else is selling and hold until everyone else is buying. That’snot just a catchy slogan. It’s the very essence of successful investing.” – J. Paul Getty
And on a lighter note…
“Getting on a plane, I told the ticket lady, “Send one of my bags to New York, send one to Los Angeles, and send one to Miami.” She said, “We can’t do that!” I told her, “You did it last week!” – Henny Youngman
“I told the doctor I broke my leg in two places. He told me to quit going to those places.” – Henny Youngman
“What’s the use of happiness? It can’t buy you money.” – Henny Youngman
“For my birthday I got a humidifier and a de-humidifier… I put them in the same room and let them fight it out.” – Steven Wright
“I went to a general store but they wouldn’t let me buy anything specific.” – Steven Wright
“What happens if you put a slinky on an escalator?” – Steve Wright