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Wednesday, October 15, 2014

Market Down 10% on Ebola Fears

While the president was busy last week with a fund raising trip to the Bay Area and Los Angeles, it seems two hospital workers who took care of an Ebola patient have contracted the disease. Now they are talking on TV about how the second worker took a plane to travel but since she wasn't vomiting, they don't believe others on the plane are at risk, but it is clear they don't know for sure. Stock markets don't like unknowns and it has sold off to finally hit the 10% level I've written about in my monthly newsletter for a long time.

This chart shows the market is at a KEY (ie very important) support level.



All US Markets are now down for the year (before adding back dividends.)  

There is also fear of deflation with most economies across the globe showing lower growth with some in contraction.

IF you want to search for good news, some of the stocks I recently added to are green today despite the markets currently down 2% or more.  These small stocks led the decline (See blue Russell 2000 on graph) down so they may be signaling a bottom for the next advance... stay tuned as this can change quickly.   

My newsletter subscribers should watch their inbox for a special "Market Update" email alert later today.

1:05pm pst Update:   My explore portfolio closed in the green today and it is up ~1% for the year.

Kirk Lindstrom's Investment Letter Performance

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