Absolutely Nuthin!!
Stay tuned and I will come with some pertinent comments!
Namely, when I started out as a Broker in '77 the Dow Jones was at 778, period, end of story.
So, 700 points down on a Dow Jones of 25,000 is equal to a drop of roughly 2.8% or roughly 12.6 points on the Dow Jones of 700: and back in the late 70's we saw 12 +/- many times.
Meanwhile, if you are in stocks - and can't sit still - then the correct technical strategy is to sell your largest losers and with the proceeds buy those stocks that have suffered the least amount of losses in the last few weeks; for, those will be, inevitably, the stocks that will lead the next stage of this once in a life-time rally.
Or better yet, search out those that are actually up!
The last full blown Kondratieff Long-Wave contraction occurred in the 30's. The next Kondratieff Long-Wave finally commenced in 2007-08, after being delayed by several foolish and ultimately unsuccessful interdictions of the US Monetary and Fiscal authorities. Its reemergence is now ordained with the FED's insanely structured ZIRP! Therefore, the Kondratieff's full impact is due to reassert itself in the next 18 to 36 months. If you want to know more: go to, www.polestarcomm.com
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