The market will eventually find a bottom and at that point there will be buying opportunities abound.
NEW YORK (PRWEB) March 06, 2020
Bill Poulos, Founder and President of Profits Run, recently shared his thoughts on the current state of the stock market. Last week was reportedly the worst week for the Dow and S&P 500 since the 2008 financial crisis. Monday, the Dow rallied 5% with the largest percentage gain since 2009. Thursday, all major indexes dipped amid new COVID-19 death reports in the United States. In his statement, Poulos explained that the market is observing panic selling based on coronavirus fears however, the market was due for a correction and will eventually return to normal.
Poulos stated, “What we witnessed last week in stock markets around the world is panic selling. Triggered of course by the coronavirus uncertainty. During periods of panic selling all rationale is overcome by emotion as well as headline driven computer algorithms. The market was already well overdue for a correction and was waiting for the right headline to trigger that correction and right on cue we have the coronavirus scare. Now corrections do not usually occur so abruptly in a matter of five days but this one did and it may not be over. But the market will eventually find a bottom and at that point there will be buying opportunities abound.”
USA Today noted that the fallout over the virus has dropped more than 3,500 points from the Dow Jones Industrial Average in one week alone, its largest decline ever. On Thursday, February 27th, the Dow plummeted nearly 1,200 points, its biggest one-day point drop ever.
Coronavirus is the name of a family of diseases. The current iteration, COVID-19, has not been experienced before and continues to spread around the world. As of today, there are at least 100 confirmed cases in the USA.
Poulos concluded, “The last panic selling of note occurred in December 2018 when the Fed was viewed as raising interest rates too rapidly. By late December there were few buyers to be found. And that marked the bottom of that particular panic selloff… While we don't know for sure when the current selloff will dissipate when it does there will be opportunities abound once again.”
Bill Poulos is a long-time financial educator. He is co-founder and CEO of Profits Run, Inc., a financial publication firm that teaches investing principles and philosophies. Bill Poulos and Profits Run created programs and services such as Real Wealth Alert, 20/30 Wealth Trader, Premium Income Alert, and Earnings Profit Alert. Poulos and Profits Run are also responsible for the Profits Run Starfish Award. The award is presented to individuals who go above and beyond to make a difference in the lives of others.
About Profits Run, Inc.
In 2001, Bill Poulos and his son Greg Poulos founded Profits Run, Inc. Profits Run is a financial education firm that offers different programs and services. Profit’s Run earned its name from a popular saying amongst traders, “Cut your losses and let your profits run.” Profits Run’s mission is to show people a simpler and safer way to invest their money.