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  Topic: White House downplays worries about
stock market plunge, says ´the fundamentals
of this economy are very strong´
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White House downplays worries about
stock market plunge, says ´the fundamentals
of this economy are very strong´

Business Insider, by Bob Bryan

Original Article

Posted By:NorthernDog, 2/5/2018 4:43:20 PM

White House officials are downplaying the recent chaos in the stock market, saying its a short-term wobble and the US economy remains resilient. "Look, markets do fluctuate in the short term," said White House Deputy Press Secretary Raj Shah. "We all know that. And they do that for number of reasons. But the fundamentals of this economy are very strong and they´re headed in the right direction — for the middle class, in particular." (Snip) "It´s still in a very strong place, it´s still exorbitantly higher than it was when he took office," Gidley said. The Dow closed at 18,589.69 on November 9, 2016, meaning the index is still up

Comments:
Roller coaster continues. Eventually the buyers will jump in again.

      


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Reply 1 - Posted by: bamboozle, 2/5/2018 4:48:19 PM     (No. 11534738)

My dad was always of the opinion that periodically the movers of the market come to shear the sheep. Kind of a contradiction that good economic reports drove a market contraction.

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Reply 2 - Posted by: offrope, 2/5/2018 4:56:21 PM     (No. 11534746)

My advisor just told me to relax, we´re still on course. He better be right.

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.New_S.
  


 
Reply 3 - Posted by: plex, 2/5/2018 4:57:14 PM     (No. 11534748)

Yahoo says close at 24,345. Where did that 18,000 number come from.

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Reply 4 - Posted by: doublesharp, 2/5/2018 5:03:40 PM     (No. 11534750)

#3, I wonder who didn´t read the article? ;-)

$18589 was Nov 2016, day after election. Market still up 30% but expect turbulence.

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Reply 5 - Posted by: Historybuff, 2/5/2018 5:06:23 PM     (No. 11534751)

Profit takers arrived. They were overdue.

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Reply 6 - Posted by: dvc, 2/5/2018 5:18:12 PM     (No. 11534753)

Yes, the tax cut will mean businesses will doo much better. So, let it ride, better, if you have a cash position, start dollar cost averaging it into the market, good time to buy, but in increments is more cost effective in most cases.

Up 8,000 in a year, then down 1,000. I see up 7,000. And frankly if it goes down another 2,000 and stays for a year, it is still a good run, plus a chance for younger folks to climb on at a bit lower level.

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Reply 7 - Posted by: joew9, 2/5/2018 5:39:33 PM     (No. 11534764)

OMG!!! Head for the hills. Hide under a rock!!
The stock market crashed to a value not seen since... well... ummm... December 8 2017.
err uhh... 8 weeks ago.

[sheepishly]I will have to revert to the standard of living I had 8 weeks ago. [/sheepishly]


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R-TA-Wide_2
  


 
Reply 8 - Posted by: Omen, 2/5/2018 5:41:54 PM     (No. 11534765)

Also,once again,those computer-driven selling programs gone wild.

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Reply 9 - Posted by: bigfatslob, 2/5/2018 5:58:14 PM     (No. 11534775)

The stock market is nothing but gambling.
You don´t go to Vegas and expect to be a winner everyday. The Market adjusted so what´s the problem?

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Reply 10 - Posted by: earlybird, 2/5/2018 6:00:08 PM     (No. 11534776)

Our longtime broker, a sane and very successful soul, did not get on these rollercoaster rides. He had extremely well-founded confidence in our stock market. And he tended to be very, very right.

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Reply 11 - Posted by: plex, 2/5/2018 6:12:12 PM     (No. 11534779)

Opps. I would have started that sentence with the date, not the index. Ah, well. Didn´t think there was a need to read the article... sigh.. Apologies

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Reply 12 - Posted by: john56, 2/5/2018 6:18:40 PM     (No. 11534785)

Somewhere I heard if you invested on the highest day of the market every year, you´d still be ahead over the long term.

The "forget about it" investment strategy I´ve had for about 10 years has done pretty well. It´s when I kept trading I lost my shirt.

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.LockDme.


 
Reply 13 - Posted by: mythman, 2/5/2018 6:23:05 PM     (No. 11534787)

Yes, the fundamentals of the economy are strong, but the stock market - now a separate affair - is a huge bubble and a Ponzi scheme, pumped up by buying stocks with interest-free money. It´s called financial engineering. The stock market no longer rises and fall just because of the economy. It rises because it´s goosed with free stock-purchasing money. Look out!

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Reply 14 - Posted by: bighambone, 2/5/2018 6:56:29 PM     (No. 11534799)

What goes up in the market must come down, that is just common sense, and when the market is down it is the time that smart investors buy stocks. The market will always have corrections that that’s what happening now. Anyone who can’t stand the ups and the downs in the market should not have their money in that big gamble.

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Reply 15 - Posted by: Lawsy0, 2/5/2018 6:56:42 PM     (No. 11534800)

Dittos, #10. Before my dear one died, he gave to me all of his world goods and a great financial adviser to go with it. My ´´money guy´´ said it is fun to watch folks get their knickers in a twist, but that his plan is to watch carefully. Also he said that as quickly as the ´´market´´ rises, it will dip down some to even out the tide.

Lucky for me, I had never invested in even a safety pin. Now the adviser ´´consults´´ with me before making any move (which he has carefully explained to me). Must agree with you and Trump that fundamentals are very strong. The strongest in a long, long time.

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Reply 16 - Posted by: dvc, 2/5/2018 7:48:58 PM     (No. 11534848)

KOL, #9. Just keep believing that. Whatever you say.

Done wisely, you are so far off base that you probably can´t even see it from there.

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Reply 17 - Posted by: geoguy, 2/5/2018 11:01:40 PM     (No. 11534949)

We´ve all seen it before. Buck-up, the economy is strong the market will heal from this minor wound and then continue higher.

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.R-LJ.
  


 

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