The Daily Dow
FOOL GLOBAL WIRE
by Robert Sheard (TMF Sheard)
LEXINGTON, KY. (Apr. 18, 1997) -- Today's session closes out a week
of recovery for the American markets. All three major indices added a fair
gain today, closing strong in the final hour.
Whether the action is options expiration activity, the result of some strong
earnings reports or simply the beginning of the bounce back from the recent
10% correction is open to debate. It's a debate, however, I chose to remain
out of.
I've got more important things to decide, like what book my son and I will
read together next, or what's wrong with my driver (it couldn't be my swing,
of course).
In other words, don't get caught up in the day-to-day explanations for Wall
Street's every movement. If you're a short-term trader, you're probably not
reading this anyway. If you're a long-term investor, interested in keeping
trading costs and taxes low, what happens in any single day, week, month
isn't crucial. Even those investors who were patient through the crash of
1987 still showed a profit for the whole year. For me, anyhow, that's pretty
comforting.
Enjoy the weekend, Fool, and relax in the knowledge that with the Dow Approach,
your long-term prospects are bullish. Let time, discipline, regular savings,
and patience sweep you to your retirement goals. See you on the back nine!
(c) Copyright 1997, The Motley Fool. All rights reserved. This material
is for personal use only. Republication and redissemination, including posting
to news groups, is expressly prohibited without the prior written consent
of The Motley Fool.
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