Thursday, May 06, 2010
Puke Down, go ahead and give it to me, puke down, it's all right.
Ah my favorite Tom Petty song from my youth.
This is obviously a big panicked reaction. It could last for days or be over by tomorrow but recognize it for what it is, a panic.
We have been through them before and you will go through them again.
The S&P 500 will be at 1200 again even if it gets there by way of 900.
This is exactly what I am talking about when I say to pre-plan for this sort of thing both emotionally and tactically if the latter is appropriate.
An emotional response is completely unnecessary.