How to Prevent Suicide in these Markets

I don’t know about you, but listening to same thing day after day can get to be quite annoying. I mean we get it. The markets are failing and we are going through troubled times. Its not going to get better tomorrow or a couple months from now, so its not like there is any new information being shared.

I don’t know maybe it is just me, somebody who follows financial news 24/7. Maybe there are still plenty of people out there lost about what is going on. Whatever it is apparently tons of people still want to learn about the same thing over and over because the financial blunder is all the media can talk about. I mean when I watch ESPN, I don’t want to hear about the economy, so leave your little remarks or side jokes to yourself. Yes we can compare the St. Louis Rams to this deteriorating economy. We all already know this, so there i no need to state the obvious.

Unless you are an active day-trader trying to navigate these harsh waters, then is there really any need to follow the market day to day? Yes, we still want to be on the lookout for solid long-term plays, but it doesn’t take much work to find, and we have to remember that we bought these stocks for the long run. Who cares what happens to them tomorrow. Common sense says that if you keep seeing your stocks going down and down, it is only a matter of time before you impulsively sell. Now it becomes a completely different story.

History says this isn’t the first time we have experienced rough markets and this won’t be the last. That is why it is important to diversify your life as well as your portfolio. If you are following the market day to day, then take a second to breath. Pick up a new hobby or spend time on one you already have. If you really need to know whats happening, then just take a look at the title headlines such as “Dow Plunges 500 Points.” We pretty much already know why, so who cares about the rest.

Now we don’t have to drop the market entirely. Just stop focusing on any actual news because it is almost a forgone conclusion that its going to be bad. Instead try some of the following:

• Take this time to learn new trading techniques or practices.
• Get familiar with shorting stocks (something I might even do).
• Watch some trading videos and seminars.

Lets face it. The markets are not getting better anytime soon, so why follow all the news? Its not even new news. People can only take so much bad news before making rash decisions, so why not try and prevent this from happening to you?

Step back, learn something new, or take a break because the markets are not going anywhere fast… except down.