04-01-08
The markets plummeted today on bad job news and poor tech performance. The Dow Jones Industrial Average was down 256.54 points down 1.96 percent for the day. The NASDAQ was down 98.03 points down 3.77 percent for the day. My stocks lost a terrible three percent today. That is about 6% down in two days. This year has started off poorly. Overall for a three year period I am up 22.17 percent. Keep in mind this is the start of the year and I just took a 6 percent loss.
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There are 2 Responses to “Markets Plummet”
#2 admin - 05 January, 10:51 PM
Rick, it is all about long term holdings and tax issues. While I could easily cash out and sit on the sidelines this is not a good way of thinking as in many situations you may mistakenly do this only to miss out on huge gains.
#1 Fearlessrick - 05 January, 3:00 PM
You realize that holding onto stocks after they’ve made you 20% is risky, especially when everything points to a recession, don’t you?
I looked at your holdings and I think I would sell almost all of them. Actually, should have sold them in August or September. There’s no bounce left.