By Michael Kay via Iris.xyz
Do you anxiously check the stock market’s rising and falling multiple times a day? You are not alone in your woeful obsession, however it might be time to quit. After all, what valuable knowledge or strategies are gained by taking your precious time to constantly check in on where the Dow, S&P or Hang Seng is teetering in the moment? The answer is simple: You are setting yourself up for a cycle of disappointment. Allow me to set the stage: It’s all about two important factors:
1) The appropriateness of your measurement tool and 2) What you are measuring.
First, some notable history:
- On October 19, 1987, the stock market plunged—the DJIA fell by 508 points to close at 1738.
- On October 27, 1997 the stock market again hit a “major landmine” and the DJIA fell by a whopping 554 point to close at 7161.
- October 31, 2007 found the Dow up 137 points to close at 13,930.
- October 20, 2016 ended with the Dow down 40 points to close at 18,202.
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