Just to placate the unbelievers, here is a partial list of stock indices already in correction or worse:
- DAX, Germany
- FTSE, Great Britain
- CAC 40, France
- Nikkei 225, Japan
- Hang Seng, Hong Kong
- SSE Composite, China
- SENSEX, India
- KOSPI, South Korea
- Jakarta Composite, Indonesia
- MERVAL, Argentina
- IPC, Mexico
Ummm, that's 11, but who's counting?
Bear in mind, some of the biggest gains are made during periods of volatility and the beginnings of bear markets. For proof of that, just go back to the NASDAQ in 2000, or the Dow in October of 2008. There were plenty of big days to the upside. Unfortunately, for those taking positions in stocks during those periods, the downside prevailed, and in vey large ways.
Put in perspective, today's broad gains covered about 2/3rds of yesterday's losses. That's not enough, and there is absolutely no guarantee that tomorrow is going to be a repeat performance.
Dow Jones Industrial Average October Scorecard:
Date | Close | Gain/Loss | Cum. G/L |
10/1/18 | 26,651.21 | +192.90 | +192.90 |
10/2/18 | 26,773.94 | +122.73 | +315.63 |
10/3/18 | 26,828.39 | +54.45 | +370.08 |
10/4/18 | 26,627.48 | -200.91 | +169.17 |
10/5/18 | 26,447.05 | -180.43 | -11.26 |
10/8/18 | 26,486.78 | +39.73 | +28.47 |
10/9/18 | 26,430.57 | -56.21 | -27.74 |
10/10/18 | 25,598.74 | -831.83 | -859.57 |
10/11/18 | 25,052.83 | -545.91 | -1,405.48 |
10/12/18 | 25,339.99 | +287.16 | -1,118.32 |
10/15/18 | 25,250.55 | -89.44 | -1,207.76 |
10/16/18 | 25,798.42 | +547.87 | -659.89 |
10/17/18 | 25,706.68 | -91.74 | -751.63 |
10/18/18 | 25,379.45 | -327.23 | -1,078.86 |
10/19/18 | 25,444.34 | +64.89 | -1,013.97 |
10/22/18 | 25,317.41 | -126.93 | -1,140.90 |
10/23/18 | 25,191.43 | -125.98 | -1,265.88 |
10/24/18 | 24,583.42 | -608.01 | -1,873.89 |
10/25/18 | 24,984.55 | +401.13 | -1,472.76 |
At the Close, Thursday, October 25, 2018:
Dow Jones Industrial Average: 24,984.55, +401.13 (+1.63%)
NASDAQ: 7,318.34, +209.94 (+2.95%)
S&P 500: 2,705.57, +49.47 (+1.86%)
NYSE Composite: 12,118.85, +149.11 (+1.25%)
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