- The Nasdaq gapped down and tumbled 2% to its lowest level for 2004;
- Oil prices surged to new highs;
- A car bomb in Iraq killed the president of the Governing Council; and
- The election of a left-leaning government in India unleashed selling in that market as well as the scores of U.S.-listed companies that do business in that booming economy.
How to Stay on the Right Side of the Market
by Chris Gessel
Calm detachment. Indeed, its easy to watch the market fall when youre sitting safely on the sidelines in cash. Careful readers started taking money off the table a month earlier, weeks before the market averages started crashing through their long-term 200-day moving averages.
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