How to Protect Your Wealth from This Financial Storm
Sep 15th, 2008 | By Rick Pendergraft | Category: Featured, Financial NewsIt’s hard to believe that last Monday the Dow surged by 289 points on news of the feds’ rescue of Fannie and Freddie. Today traders are in full panic mode. They have sent Dow futures down by 342 points, leaving the index at 11,109.
Rick Pendergraft advises investors to do one of two things: “If you are a long-term investor, ignore most of the news unless it affects one of your stocks in particular. If you are a short-term trader, take profits quickly and take losses even quicker.”
Buying an inverse ETF that profits as the market drops is also a sound way to insure against losses…