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A market correction is a scary for everyone, and this last week was a painful reminder for many unprepared investors…
The Dow Jones plunged 8% since last Friday (Feb. 2), while the S&P 500 sank more than 10% from peak to trough. It was nearly the Dow's worst week since the 2008 financial crisis.
But the dip into correction territory didn't happen all at once. Instead, it unfolded over the course of the entire week.
Last Friday, the Dow dipped 2.5%, but that was just the prelude to what would come on Monday.
That's when the Dow fell nearly 5%.
And just when traders thought the bleeding had stopped, the Dow stumbled another 4.2% on Thursday (Feb. 8), losing over 1,000 points on the day.
But some stocks have fared even worse.
Exxon Mobil Corp. (NYSE: XOM) plunged 15% since last Thursday. Alphabet Inc. (Nasdaq: GOOGL) sank 11%. Facebook Inc. (Nasdaq: FB) fell nearly 10%.
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Fortunately, we've been preparing our readers for this type of correction. And if you're just starting to prepare now, this plan can help you any time volatility takes hold of the markets.
For our readers who've followed our strategies, congratulations, you've been navigating the storm profitably.
Falling stocks likely triggered your trailing stops, which is one of Money Morning Chief Investment Strategist Keith Fitz-Gerald's Total Wealth principles. Keith even recommended you tighten your stops to protect your money back in August.
That means you've taken profits during the correction and now have an arsenal of cash ready to redeploy. That's a good thing.
Plus, if you've held a small, 5% stake in the Rydex Inverse S&P 500 Strategy Fund (MUTF: RYURX) like Keith recommended, your investment is up over 10% since the end of January.
You've been making money while the rest of the investing world has been watching their portfolios sink.
But if you're new to Money Morning, or just curious what to do now, we're here to help.
Here's how to turn this market correction, and any future volatility, into a profitable experience…
Tags: stock market crash