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Stock Market Rallies In The Afternoon To Post a 300 Point Gain

By Erik Folgate

I wrote the article below in the midst of watching the market drop 300 points in the morning, then from about 12pm to 3pm, it rallied to post a gain of 300. I told you not to panic! So, is this enough proof to show you that you shouldn’t drink the doom and gloom Kool-Aid that the media wants you to believe? Check out the closing marks for the Dow.

For those of you that lived during the days of Jimmy Carter, you shouldn’t be worried right now. You saw the highest mortgage interest rates in history, high unemployment, and horrible stock market returns. I just don’t see the big signs that say we’re heading for two years of economic decline.

Erik Folgate
Erik and his wife, Lindzee, live in Orlando, Florida with a baby boy on the way. Erik works as an account manager for a marketing company, and considers counseling friends, family and the readers of Money Crashers his personal ministry to others. Erik became passionate about personal finance and helping others make wise financial decisions after racking up over $20k in credit card and student loan debt within the first two years of college.

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Comments

  • Jacquelyn Hart-McCoy

    I am thinking this is just short term, I hate to be all gloom and doom, but I do feel it will be a rough year.

  • author

    Yeah, it’s going to be a bear market this year, no doubt about it. But don’t believe the papers, because they’ll get you thinking that the market and economy are going to tank.

  • OnlineBusinessEntrepreneur

    I agree with you Jacquelyn, it seam to be a rough year, but a rough year bring new business oportunities to.

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