Yes, we should panic. Panic and greed are in the long run the most profitable trading philosophies. Sure you can make money by doing research, but not much. Jumping in and out with price movements will guarantee you never have to worry about a large tax burden. That cuts down on stress and anger when April 15th rolls around. You will live a much longer and happier life, since money is the root of all evil.
Or better yet: Buy with a plan and as long as the company's business plan and fundamentals don't change, don't change you plan.
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