The market opens in a little more than 1 hour from now.
If it opens at that point where the pre-opening index futures are trading overseas at this time, we’ll open no less than 3 and 1/2% higher! In other words, there may be an explosion of buying at the open… I’m ready!
Did you buy yesterday?
This morning’s paper… Front page, above the fold… “The shiver felt round the world.” The by-line read, “Stocks drop 1,000 points, sparking fear and worry.” Whenever the market makes that kind of front page news, it’s best to buy just ahead of it!
Do not think… “I’ve missed the boat! The train’s left the station without me!” It probably has not. Don’t be a ‘panic’ buyer during ‘panic’ buying. Be a buyer during PANIC selling. We’ll go up, but it’s likely to get sold into, and possibly a goodly ways back down… these things have a way of taking considerable time to work out. I’ll be surprised if we resolve with just another “V-shaped” bottom out of this rout! Expect other opportunities to buy to show themselves in the ensuing weeks.
The important thing is this: Last October’s bottom roughly held. It is now the true “line in the sand” that must not be closed under.
Here’s to your successful investing!
Harold F Crowell