Albany - That so called stock market nose-dive yesterday wasn't really that bad. That's the word from a financial advisor in Albany. Bo Johnson with Wachovia Securities financial network says the more than 300 point drop of the Dow Jones Industrial yesterday was only about a 3% dip.
Plus he says there were still more buyers than sellers playing on the market and that's a good sign, so don't worry about cashing out your 401K and other stock options. A 400 point drop in the market these days is not much.
"A 400 drop 20 years ago, was significant. In fact, in 1987 when the market crashed, right around 500 points, that was a much larger percentage in the market, but now a 400 point drop is not much at all."
Johnson does expect there will be more resistance of the market since the Dow Jones and the S&P are both at near record highs. If you're worried about your investments, don't make impulsive decisions, call your advisor.