Cherokee County, Northwest Iowa | High was basically right at 4,800, so today at 3,911 it has dropped about 19% from the high. I have a sign on my wall saying "Start buying at 3,500. Be patient." 3,500 would be about a 27% drop from the high.
I enjoy watching all the "talking heads" on the tv business channels- opinions vary from the low is in and you should be buying now to the worst is yet to come.
FWIW-my three thoughts now are:
1) like some lady said on tv, people will go out and celebrate July 4th, then come home, see what they spent on food and fuel, look at their 401K, and then the market will head south.
2) stole this idea from what some New Ag Talker reported a couple of weeks ago-booking prices for fuel oil for the upcoming winter heating season are super high, and is going to really cut into everyone's budget.
3) More times than not, the month of October gets pretty ugly for the stock market.
So, your thoughts? Will S & P drop to my target of 3,500 or not? |
Any predictions on the S & P stock futures?
