Prior to today's sell-off, we'd witnessed several weeks of
unimpressive volume totals, yet the market continued to move
Today was a totally different story, as the global markets have
all decided to take yesterday's Fed commentary/action as a clear
sign an economic recovery is not as close as certain market pundits
would have you believe. I talk to numerous people from different
industries and there is still a lot of caution when it comes to
spending on new projects and other business development ideas.
Granted, many great businesses are often built in tougher times,
but today's economic landscape is quite a bit different than what
we have seen in the past. Still, there are plenty of opportunities
for entrepreneurs to go into business today, with start-up costs
that are much less than even just a decade ago (with an emphasis on
web-based businesses). Despite what some see as opportunities, poor
planning often throws the initial focus off track and incur ongoing
costs - and more importantly, one's time. The idea of "work at home
and make lots of money" usually robs someone of much-needed capital
that could be used to invest for the long-term, or even paying
debts that have piled up.
Taking financial responsibility and knowing what you can afford
to do is the key. I talk about investing in quality dividend-paying
stocks as a great way to build up your future income, but if you
are spending like there's no tomorrow as well, then that is a risk
that could eventually negate all the good you might be doing on the
investment side. Saving is a mantra that needs to also be adopted
if the work you're doing for the long-term is ever going to make a
real difference down the line. Make smart decisions all around, not
just in the stock market.
As for today's sell-off, there were numerous sectors in the red.
Some of the key names seeing lots of selling included Union Pacific
) , Broadcom (
) , Massey Energy (
) , Hewlett Packard (
) , and Wells Fargo (
) , just to name a few. Walt Disney (
) was lower following the company's results. Macy's (
) actually traded higher after its earnings release, bucking the
overall trend. Some of the big winners on our recommended list are
in a mini-slump, and we are carefully monitoring those names as
well. We'll be sure to keep subscribers posted if we make any
changes. Volume picked up the pace with 4.51 Billion shares traded
on the NYSE and 2.22 Billion shares traded on the NASDAQ.
Be sure to check out our list of the
Best Dividend Stocks
that are ripe for investment right now.
Be sure to visit our complete recommended list of the
Best Dividend Stocks
, as well as a detailed explanation of
our ratings system here