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October 24th, 2008

An Opinion on How to Play the Market Today



From the Wall Street Journal:

A new wave of fear seized investors and trading floors around the world Friday, resulting in an across-the-board drop in stocks.

The Dow Jones Industrial Average was recently down 222.85 points, or 2.6%, at 8468.40. The S&P 500 slipped 2.7% to 883.66. All its sectors traded lower, led by energy, off 5.6%, and technology, off 3.8%. Health care, a traditional investor haven, saw more modest losses and was down 1.7%.

The selling was prompted in part by signs that economies around the world are beginning to crack.

Be sure to read David Spurr ’s post (from Displaced EMA) from first thing this morning for his take on “how to play” the market today. He has also made some follow-up posts since then.

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HSH.com's daily blog focuses on the latest developments in the mortgage and housing markets. Our mission is to relate how changes in mortgage rates and housing policy, as well as the latest financial news, impacts consumers, homebuyers and industry insiders alike. Our 30-plus years of experience in the mortgage industry gives us an edge as we break down the latest changes in an ever-changing market.

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Tim Manni

Tim Manni is the Managing Editor of HSH.com and the author of their daily blog, which concentrates on the latest developments in the mortgage and housing markets.

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