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As you may have seen, with 2 1/2 hours left in the trading day, stocks have rebounded strongly off of some key support areas.
We've seen intraday bounces fall right back down before, but based on where the rebound occured, there is a possibility that sellers are done during this pullback. Of course if things fall back down and these support levels break, this is moot.
After the market gyrations of the last few years there have been very few articles written about how buy-and-hold investing is the superior approach to the market.
The buy-and-hold argument has really lost traction in the last few years in large part because most folks simply can’t handle tremendous volatility even if they have very long-term time frames. They end up making their moves at exactly the wrong time. Few have the discipline of deep value investors like Warren Buffett.
Stocks were mostly lower yesterday although they did finish well off of their lows. Trading became volatile after the Fed minutes were released, but the indices ended the day close to where they opened. The Dow dropped 49-points.
Stocks moves down again yesterday as we saw that dreaded "sell the news" reaction from the initial big company to report earnings. The Dow lost 83-points.
Stocks opened sharply lower yesterday but made several attempts to push toward the break even mark before closing with just modest losses. The Dow gave up 36-points on the day.