July 23, 2010
Last week we went home a little down at the heels, having taken a beating in the market, with the Dow down 261 points. We don't really get beat up on days like that because for most clients our job is to help them carefully select sound investments and then sit tight through the ups and downs. But in this job we are tightly tied, psychologically, to what happens in finance every day. And if down is the movement, down is the mood.
But like Rochester weather, things can change fast. This week, with corporate earnings reports sketching a bright and sunny picture (with the occasional cloud), markets have responded and we closed up 326 points for the week. Suggests that choosing wisely and sitting tight may just be the best thing after all.
(This article contains the current opinions of the author but not necessarily those of Brighton Securities Corp. The author's opinions are subject to change without notice. This blog post is for informational purposes only. Forecasts, estimates, and certain information contained herein should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. References to specific securities and their issuers are for illustrative purposes only and are not intended and should not be interpreted as recommendations to purchase or sell such securities).