Ouch
Really, that is all we have to say. Have I ever mentioned trailing stops before...oh yeah...here, here and here ;-) And we called for selling/stops back on Dec 10 at 13,800. BUT...then I started buying again in early Jan at 12,800....kind of reminds me of trying to catch a falling knife...gotta be REALLY careful. Well, we got burned on those. But at least the commissions are free at Zecco.com so getting in and out quickly does not hurt nearly as much! Unfortunately MOST of the net worth is all tied up in those things called 401Ks....which are currently getting pummeled...so in reality...saving some losses on the small stuff is kind of a moot point...but at least it makes us feel a little better.
While we are talking about the 401K, back in Early December I moved a LOT of my 401K into emerging markets and Europe/Asia. While they are also not doing all that well...they are not getting clobbered the same way the USofA is right now...maybe in a few months we can bottom fish in the USofA...but I am going to be a bit skiddish for a while since things are just piling up over here.
1 comment:
Remember to keep that long term perspective as regards your 401K! It may hurt now in the short term but typically stocks have always fared better over the long haul. Unfortunately, unless you have really outdone yourself, you should still be working for a number of years.
Then there are those of us on the verge of retirement or already retired on fixed incomes! Actually, the financial wizards suggest that a significant portion of one's investments remain in the stock market as well because ... we are probably going to live for another 20 years! And again, the stock market has fared better over the long haul! OH ... how I am tired of hearing those words. I am learning to live with it though ... I have to!!!
So perhaps the best thing to do is to make certain that one's portfolio remains balanced and diversified. There is no greater truth in the stock market than "What goes up, must come down!" How do investors manage to forgot that old adage all the time?!?
And the major cause of the current stock market problems ... GREED! Makes me furious to hear about subprime mortgages!!! HONESTLY ... if you figure out a way to loan money to people who can't qualify for mortgages in the first place, why are you so surprised when they can't make the payments?!? LIFE IS NOT FAIR and everyone is not entitled to everything ... especially these days.
XGAMES ... give me a break?!? How about putting one's efforts into education and getting a real job? Oh ... excuse me ... you didn't catch the gist of my rant cuz (1) you couldn't read it and/or understand it and/or you are too busy listening to your iPod or playing games on your WII/XBox/TV/Computer.
I will now gingerly attempt to climb down off my soapbox now. Thanks for reading this far. Blessings!!!
Post a Comment