This week s trading was especially volatile, with the Dow dropping nearly 380 points Thursday and the Nasdaq closing at its lowest level this year. The market recouped some losses Friday, with the Nasdaq recording its third-biggest point gain ever, but all three market benchmarks finished the week in negative territory. The pain hasn t been spread evenly. Technology stocks are trading at some of their lowest levels in years, while utilities are having one of their best runs in a long time. Indeed, there seem to be as many different opinions as analysts.
Investors disagree whether the market is bullish or bearish, but few seem to be terribly worried.
I feel very secure with my decision. Other investors also seem focused on the big picture rather the market s recent downturn. It s one of those things you have to look at in the long haul. We re coming up on the best market time of the year. Okoomian cashed out about one-third of his portfolio when the market began its downturn early this year.