Too many investors -- not to mention analysts and financial journalists -- suffer from the same affliction: a short attention span. A bit of news here, a rumor there and suddenly we have a trend.
Case in point: the March quarter. No sooner had it ended than a flurry of warnings, particularly by software makers, threw many of us into a tizzy. And when IBM(IBM Quote) sprang a surprise miss on the market on April 14, there was such consternation that it is probably a good thing windows in most offices can no longer be opened.
Remember what happened the next day? The Dow Jones Industrial Average closed down 191.24 points, or 1.86%, to 10,087.51, marking a three-day decline of more than 420 points, or 4%. The S&P 500 fell 1.67% that day, while the Nasdaq Composite fell nearly 2%, bringing its three-day loss to 4%. ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,309.92 | 1,091.49 | 2,138.44 | 32.31 |
Oil *
77.12
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DOWN
154.48
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DOWN
19.14
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DOWN
37.61
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DOWN
0.48
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10 Yr
3.23%
SPDR Gold
115.06
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-1.48%
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-1.72%
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-1.73%
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-1.46%
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