After the insane ups-and-downs in the market this week, I’ve been trying to come up with new lyrics to “Rollercoaster of Love” by the Red Hot Chili Peppers in order to use it for stocks.
Somehow, I don’t think a remix with a focus on investing would hit the Billboard Top-40, though.
Market News:
- Thanks to Treasury Secretary Steven Mnuchin’s botched attempts to calm the markets by calling bank CEOs and freaking them out on Sunday, the stock market saw its worst Christmas Eve in history – a full collapse in all indexes – leading to a not-so-happy holiday for investors.
- The market skyrocketed on Boxing Day (December 26, for the uninitiated) with the Dow hitting an all-time one-day point gain record of more than 1,000 points. Weirder still, this unbelievably up-day was hit on no news whatsoever. During a Bear Market, no news is definitely good news.
Get Irked Updates:
- The week’s explosively volatile action led us to post a reminder about our Three Day Rule – never panic-sell into a down day in the market. Although it can be unbelievably painful to hang on during sell-offs, always remember your time horizon and even avoid looking at your portfolios altogether if you’re tempted to make a rash decision.
Trades in Play
- With the markets selling off so powerfully, you might think we didn’t do anything with our portfolios. However, certain stocks are reaching very interesting oversold levels making them impossible to resist. Stay tuned later this weekend for our Trades in Play update in our Facebook group.
Disclaimer: Eric "Irk" Jacobson and all other Get Irked contributors are not investment or financial advisers. All strategies, trading ideas, and other information presented comes from non-professional, amateur investors and traders sharing techniques and ideas for general information purposes.
As always, all individuals should consult their financial advisers to determine if an investing idea is right for them. All investing comes with levels of risk with some ideas and strategies carrying more risk than others.
As an individual investor, you are accountable for assessing all risk to determine if the strategy or idea fits with your investment style. All information on Get Irked is presented for educational and informational purposes only.
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