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Keep Calm and Carry On By StockNews

by Mike Robinson

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© Reuters. Investor Alert: Keep Calm and Carry On

The stock market (SPY) took a scary turn on Monday as news of Evergrande culminated in a worldwide sell off. Investors can now see that the fire was not real and it is a Buy-the-Dip event. How did it happen? What’s next for stocks? You can read on to find out the answers. Stocks have been at record levels since September’s beginning. This was due for some pullback. The 50-day moving average was tested for the seventh time in this year’s trading. This meant that this retreat seemed like nothing.

On Monday, we fell below this level due to the ominous news that Evergrande (the largest Chinese real-estate company) could be in danger of collapsing, with whispers that it might be a Lehmanesque event.

My intraday note on Monday was to “Keep Calm and Carry On”. Meaning don’t panic. Don’t sell. You can expect a rebound soon.

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