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Panic Selling Hits Wallstreet – Again August 10, 2011

Posted by TelUS Consulting Services in Uncategorized.

The Standard & Poor’s 500 Index fell more than 6% in the first trading day after the U.S. was stripped of its AAA credit rating. The index was down 17.9% from this year’s closing high, reached April 29. The fall, the biggest since December 2008, was part of a global sell-off.

For those of us watching our IRA’s & 401k, just be patient. Remember that this is investment for the long term. Just keep watching your dividends & monthly allotments buy those same stocks at these rock bottom prices.

For those of you with cash in hand, now might be a good time to bottom feed. There are several really strong stocks, with good dividends, at rock bottom prices. Just use caution, there may be another dip or two in this correction.

Joe Buck, NCE

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