Monday On Wall Street
October 20th, 2007 by Grant in: Economics, InvestingLast Friday marked the 20th anniversary of “Black Monday”, in which the Dow Jones slid 508 points. What’s interesting about this is that many blamed the Monday slide in 1987 on a big sell-off on the previous Friday.
Well, since I’m a firm believer in the notion that history bears repeating itself, I’m currious as to what direction the market will take Monday morning, after the 360 point dumping the Dow took last Friday.
The market has been volatile, more so it seems than normal. We’ve seen periods of 120+ point gains several days in a row, and then a major short period sell off.
Anyway, the financial news is abound with speculation that we’re in for a Black Monday, Round 2. The big players aren’t so sure.
One thing’s for certain, it’s good to be holding some cash going into Monday.
Tags: Black Monday | Dow Jones | Stock Market | Stocks | Wall Street
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October 20th, 2007 at 10:42 pm
Yeah, Black Monday, a distant memory with most investors, was quite a bust. This time around the bust has to be led by oil. The leaping new highs are simply unsustainable. When nat gas joins in, the party could really get rough.
October 22nd, 2007 at 7:32 am
We may slide further, but another ‘Black’ Monday won’t happen. Limits and circuit breakers were put into place to ensure that if massive selling does occur than atleast it will be in stages. One thing’s for sure, there’s enough bad news that’s been piling up that maybe people are finally starting to question growth. Remember though, with great volatility comes great opportunity!