“Sleigh bells ring, are you listening..” - Richard B Smith
The markets have been on a theme park sized roller coaster since the beginning of October 2018. Volatility both up and down seems to have dominated many if not most of the days, at least the ones which stick out in our recall. The markets dropped around 4.5% last week, yet through the end of last week the S&P 500 index was still positive 0.3% for the year and the DJIA was positive 0.9%. None of those numbers are joyful or full of holiday cheer. But for those asking is this another 2008? The answer is, I don’t think so, but I don’t know. I cannot predict what the market will do- especially in the near term. No one can successfully do that.
The economy continues to show positive signs; for example, we have 1 million more job openings than we have unemployed. The way the markets are moving right now we could still easily end the year up 5% but down 5% is possible as well. Unless your life plan drastically changes in the next few months don’t focus on December 31. It is one frame of film in a 365-frame clip, and an 11,000-frame movie which tells the next 30 years of your life. Most of you reading this know what actual frames of film represent vs the current digital formats. But those digital formats are progress. They are higher quality and cheaper to use, that is advancement, the very thing moving this economy forward. If you have market concerns please take a minute and call myself or any of us on the Utica Capital team, we are here for you. Also look for information related to a call early next year, as we begin to bring you opportunities to hear from some of the economists and market experts, we draw insights from.
Have a great week, keep your long-term vision in focus.
Investors cannot directly invest in indices. Past performance does not guarantee future results.