Stocks Close Lower Because (Surprise) Credit and Oil Price Worries
Well, Wall Street closed Thrusday with a decrease - what a surprise. Every time the market goes down, it’s the same thing; investors are worried about the credit crunch, yada, yada, yada.
Wall Street closed slightly lower in erratic trading Thursday as investors uneasy about the credit markets and record-high oil prices took little solace from reports on new home sales and durable goods orders.
This is why it is important to diversify your portfolio. My portfolio on the online stock picking service Gorilla Trades, had a few losers, but it was still up overall today. Diversification is huge; if one sector takes a hit, another usually rebounds so it tends to at least even out.