Boise (670 KBOI) – If you thought Friday was a pain in the wallet, well, you’re really feeling it today.
With the markets down so much in the last two weeks, what does that mean for your portfolio?
Brian Wiley, host of Idaho’s Money Show, says the market is up so drastically in the last year, it’s only natural that some investors would want to cash out.
“Today, we saw the markets finish with a 4.6% loss,” said Wiley. “That’s significant, no doubt about it. It was a little bit deeper in the middle of the session. What we have, clearly, is profit-taking going on. Sometimes, it’s just time to take something off the table and sell it; it’s just the wise thing to do.”
Wiley says there could be a 10, or even a 20-percet correction, but if history is any indicator, it’ll probably happen quickly…maybe in the next two weeks.
You can hear Wiley on Idaho’s Money Show, at every night at 6:00 on 670 KBOI.