The most recent downturn was on earnings concerns from Intel who said chip sales continue to be sluggish in the U.S. as well as Asia and Europe. Then Cisco said they were going to lay off more than 5,000 workers through attrition this year. They also see Europe and Asia weakening some, and with that, the market just gave up and collapsed. Right now, psychology is running this market, not logic. Try not to allow the markets' emotions to impact your emotions.
Real bargains emerge out of season.
Review your asset allocation. If not, talk with your financial advisor or us about an asset allocation that will make you comfortable. We believe that will continue. Money supply has been growing at an unusually high rate. Taxes may be reduced both in the United States and Europe.