Stock market update; food for thought!

October 9, 6:04 PMBaltimore Financial ExaminerTom Taylor, CPA/PFS

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The DOW Jones Industrial Average closed today at 8,579.

The last time the DOW was above 9,000 was...YESTERDAY.

The last time the DOW was above 10,000 was...MONDAY.

The last time the DOW was above 11,000 was a week ago today; last THURSDAY.

The move down over the last several days has been swift and extraordinary to say the least.  A classic sign of a stock market bottom.  Think of it this way...if the DOW continues at it's current run rate of down 500 points a day...as it has each of the last seven days...it will be at zero in 2 1/2 weeks...17 days.

So what do you believe...DOOMSDAY in 17 days or is this a once in a lifetime buying opportunity?

Oh yeah, one year ago today...the DOW was at an all time high of 14,164.53.

Tom Taylor is a Certified Public Accountant and Financial Planner and can be contacted here.  He is a member of NAPFA and the MACPA.