FREE FALLING - Dow Dips Below 7000
Not film related... although, that's arguable, since financial investments (whether from corporations or individuals) are a crucial part of the film production process.
The Dow Jones Industrial Average (DJIA), the leading stock market index, compiled to gauge the general performance of the American stock market, and thus the economy, fell below 7,000 this morning, to numbers it hasn't seen in 12 years - since 1997!!
If you're invested in any of the markets, like I am, you have to be concerned, if you weren't at all worried before today.
Many analysts saw the 7,000 number as some kind indicator - the number the Dow was not supposed to drop below in order for consumer confidence to remain somewhat stable... if you can call what we've witnessed so far this year, stable.
By all accounts, the dip into 6,000 territory signalizes what could be the beginning of a stock market free fall. Let's hope not! I certainly hope not.
In the last 6 months, I've seen the value of my portfolio suffer tremendously, and I'm starting to become anxious. Should I sell, or is this actually a good time to buy? After all, the market mantra we've all heard before is "buy low, sell high."
Easier said than done when one isn't sure where "low" is.
Some former blue chip stocks are now worth pennies on the dollar, or as much as 95% less than what they were worth just a year ago! Ouch! Imagine putting $1,000 into a stock a year ago, only to see it fall to $50 in value a year later. Again, OUCH! That's not what my portfolio looks like, thankfully, since I diversify, but, there are probably others who haven't been as lucky.
How's that Obama stimulus package working for ya?
Tick, tock, tick, tock...
free
Sadly (or do I mean gladly?) I have little left to lose...
But if I had some to invest, right now, I'd be super excited!
:0
You're braver than I am. I've taken most of the little money I have out of the stock markets. I don't have to stomach for this LOL!