Counting the Casualties
Well, this is the worst day I ever had in my not-so-long investment life. More than $15,000 on paper are gone in one day, with the worst being all China related issues: GRRF, -$1.40 (10.17%), PGJ, -$2.10 (9.62%), and LFC, -3.72 (8.82%). The smallest decliners are PEY, -$0.44, 2.88% and OAKBX, -$0.43, 1.61%. The break down of the losses look like this:
- Stocks: -$8,210 and LFC alone contributed nearly $5,000;
- Mutual funds: -$3,230 with TGLDX (-$3.04, 5.47%) being the biggest loser (I did buy another $200 today, however);
- 401(k)s and IRAs: -$4,300;
For the other two I purchaed today, DODGX lost $4.86 or 3.07%, while DODFX was off $1.52 or 3.29%. With losses like these in a single day, I guess I can forget about any positive gain for the month.
Hopefully, today’s sell-off is just a short-term correction, instead of the prelude of a long-term decline. Let’s what tomorrow will bring.
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Sun, would you say that this is probably a good time to buy some stocks?
If you already have something in your mind and just wait for the right time to get in, then a drop like yesterday always presents some buying opportunities, especially when you intend to buy the stocks for some quick profits. If, however, you want to buy the stock and plan to hold it for a long period of time, then buy at drop can let you net more shares with the same amount of money, in the long-term, it could make some differences, but not very big. Of course, you don’t want to buy a stock because all the sudden it looks cheap,
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