WORRY?

The revshark on realmoney.com is making some comments about the selloff of yesterday and today and he says:


"In this difficult market, it is very important that you remind yourself that things are seldom as good or bad as they seem. With two days of ugly selling, the perma-bears who have been wrong about this market for many months are doing high fives and advising us that this is just the beginning of something much nastier. Their arguments, which were ignored for so long, are now taking on great relevance in their minds.

This is just a good old selloff. They occur several times a year and sometimes turn into downtrends that last for a while. You can easily convince yourself that we are in for a reversal like we had in 2000, or even a crash like we had in 1987, but that is a very long shot. It is particularly important that you stay calm, raise some cash and not be overly anxious to bottom-fish. We should be defensive here but don't get caught up in the dire predictions, which are going to become increasingly loud today. "

I think Revshark nails it with these observations.