Monday was a terrible day in the stock market. The S&P 500 had a new closing low for the year. It briefly touched a new intraday low. In my book, this is a bear market, despite the media nonsense that it’s only a bear market if it’s down 20%. By the time the market averages are down that much, many mutual funds and individual stocks will be down more. Would you want to sit through that?
I hope that you followed my advice earlier in the year, and took your money home and let it hug you while everyone else was feeling the pain. If you have, great!
I’d accept these gifts gratefully and take advantage to lighten up big time. Bear markets typically last 18 to 30 months and this one is just starting. I see no reason why it might be more benign is than typical.
Along with my suggestions on what to do about it, here are some of the reasons why I think the markets are still headed lower for a long time…
The post Here’s Why There Will Be More Bad Days Like Monday appeared first on Lee Adler’s Sure Money.
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