According to the Wall Street Journal Market Data Center, last week gave us the 5th largest point loss in the S&P 500 in a single day, and the 10th largest point gain in a single day.  We also got to enjoy two other days that weren't far behind, in each direction.

There was a lot of talk about this being 2008/2009 all over again.  Some investors ran for the hills and sold after the S&P 500 dropped 6.66% on Monday, August 8.  Was that a good idea?  I don't like to use outcomes to prove or disprove the wisdom of certain actions, because "right" thinking can sometimes lead to inferior outcomes, just as good outcomes sometimes occur despite faulty reasoning.  Regardless, let's look at the last 6 days of performance in the S&P 500.  I'm not trying to draw too many conclusions from 6 days of highly volatile trading, but it's interesting to note that just a week after many people were headed for the door, we're basically even.

The key takeaway for me is that you could have left on Friday, August 5 for a week of fly fishing in Montana, sans Internet, smartphone and TV.  Upon your return, a quick glance at your portfolio would probably suggest a stable week in the markets.

Despite incomplete data, somewhere in there is a lesson in staying the course.