Thursday, July 11, 2019
The Dow finally broke 27,000 after several months of up and down movement. Although that does not by any means make any of us normal plebians playing (I mean investing) in the stock market it does give us a significant numerical sign post how we are doing. Many other indices were fluctuating at or close to their all time highs also. There have been many talks about tariffs, economic factors and other things that have had many investors spooked including rate hikes and all. But there are also many economic factors such as when people get paid for their 401k and weekly or biweekly paycheck.
After scouring some social media and StockTwits we came across a few posters that had a lively debate between current millennial money and old money. The new money is into cryptocurrency and other investments while some of the old money generation while taking a toe dab into some of the virtual and digital currencies are also under the opinion that 401k’s and investments and the economy is not going anywhere. After all with millions of investors, employees and workers the funds are just sitting in there until age 65 and not going anywhere soon.
You may watch daily price movements fervently but just remember to zoom out and look at the big picture.