Go ahead and buy coke stock if you have the money to burn right now.
When the market recovers- and it will, your stock will do well but it will take time.
The fear of buying is what perpetuates the downward spiral.
Dumping stock just makes matters worse.
I hate times like this because of the panic factor, it will be bad no matter what, but people panic and it gets worse unfortunately.
And to you daytraders. Please just educate yourself on the companies you buy stock in.
You can't buy and sell in a week or a month and make money- FYI: unless you are wealthy to begin with, you are really just wasting your time and making the market zigzag.
I had a bit of money in some mutual funds and after 9/11 lost maybe 95% of it.
It tripled what I intially started with after a few years and a few diversifications.
Right now it has dropped maybe 45%.
Also right now, my Roth IRA is looking dismal.
The market always has large dips like this every so often and some financial people have seen this coming. It's a 'market trend'.
The only question is, how long will it last this time?
If you are worried, just save as much as possible out of your paychecks and use cash for everything , downsize, consolidate and buy store brands.If you have a financial advisor, now is the time you find out if he/she is worth their salt.;)
A good one will tell you exactly what you need to do and to NOT PANIC:)
The good news is, gas prices have to go down, and if they don't....well, now we will have proof that our gas co. are just fucking us up the ass:D
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