The last 2 days have been ugly on Wall Street. Pretty much everybody is down. Don't believe anyone who tells you they know why, they don't. Again, the stock market is like a cruise ship powered by 1,000 people rowing and no one is coordinating their rhythm or direction. Eventually the ship will move in a direction from sheer dumb luck.
I came across this article, talking about how all the cell phone companies are down. It said something interesting about Nokia: "...The company’s current share price is around $3.5 even though it has $3.7 per share in cash alone." That's because probably 80% of the people who are taking actions that are causing the price to change have no idea how much cash Nokia has, nor how to calculate the stock price based on the cash balance alone.
The point is that people are doing stuff, buying stocks, selling stocks, holding stocks, whatever. And they're doing it not based on what the last quarterly report for Nokia was. Heck, they probably haven't even seen the last quarterly report. Then there are the computer programs, making perhaps millions or billions of decisions a second. Apple's down, sell Nokia. Nokia's up, buy Samsung. Samsung is up, buy Intel. All day, every day. That's why the markets are always all over the place. Don't try to understand it, just roll with it. Especially when we have days like today, lower prices make great buy opportunities....
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