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Markets Send Investors On Roller Coaster Ride

Markets Send Investors On Roller Coaster Ride

If you are playing the stock market or just watching your 401k the partial government shutdown has had an impact on your money. The markets had been taking a bit of a beating until a surprising turnaround on Thursday.

The Dow Jones Industrial Index shot up 323 points on the news of a possible deal to extend the debt ceiling. KTRH Money Man Pat Shinn says the market really had nowhere else to go but up.

“The market had been pushed down. It gets oversold. Just like a spring that pops back that is exactly what we saw. Will it hold? Nobody knows,” Shinn said.

It's kind of like predicting the weather. No one really knows what's going to happen next. So what should you do? Stay the course on your investment or pull out? FOX's Lou Dobbs says the answer is simple. Do nothing.

“I truly believe investors who hold here are going to be fine. There has to be a deal here. The President says he won’t negotiate? He will,” Dobbs told KTRH.

Shinn agrees with the strategy Dobbs is suggesting.

“Don’t get caught up in the one day or two day hype. Don’t think like a trade. Think like an investor,” Shinn stated.

Dobbs says if the market can withstand all of the antics going on in Washington and basically break even, there's no reason to pull your money from Wall Street.

“We’re talking about a market here that is strong enough to go through all of this nonsense and still move ahead. I think that bodes well for future appreciation in the stock market,” Dobbs explained.

 

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