The Down lost almost 1,000 points at one point today and investors where in full panic mode. It was a good example of how the market can go up on greed and down on fear. The riots in the Greek streets that were shown on TV were enough to push professional investors off the edge and make them sell. Computer trading then took over and pushed the market lower. It was crazy there for a while and truly made you think that it should be called stocks for dummies.
If you had bought when the market was down 800 or more points, you could have made some quick easy money. From that point stocks went back up and although it was a bad day with the Dow losing around 350 points, it was no where near what it was at it’s worst.
Whenever people panic like this it makes one wonder whether it is a buying opportunity? It was if you timed it just right today but few people have the ability to do that. Other than that, it might be too risky to buy now and hope things get better. This was the third day in a row that the market went down and there is definitely a lot of bad news and uncertainty on the horizon. This could be just the start of more bad things to come so buying here could be foolish. At least one thing seems to be for sure: stock trading will driven by a lot of fear in the near future.
If you are a stock market beginner just wanting to find out what it is all about, you might use this opportunity to sign up for free to Stock Market Survivor where you can be in control of your very own portfolio. You are given $100,000 in virtual play money to get started and you can trade stocks exactly like in real life. There are also monthly prizes to win and it is all free. Most of all though, Stock Market Survivor is a great place to get your feet wet in stock trading and find out what it is like to have your own portfolio of stocks. It should be a lot of fun to watch your stocks go up and down in the coming months and not have any of the risk.