Bloody Day Today

For a day like today, there’s simply no escape.

With Dow off more than 260 points, the deepest drop since 2003, everywhere I look, all I see is red. When I checked my Scottrade account couple of minutes ago, I found my paper assets have shrunk nearly $8,000 already and that’s just stocks. The total loss could be well over $10K at the end of the day when I open up my Quicken and download all the data. It won’t be a pretty picture.

However, when I see decline at this magnitude, I usually don’t seek refuge (there’s nowhere to hide anyway). Instead, I try to buy a little more. In fact, I already ordered $200 of both DODGX and DODFX, and another $100 $200 of TGLDX this morning.

Today’s decline is largely due to the the sharp sell-off in China, where two major indexes both dropped more than 8%, the worst in almost a decade. And the plunge in Chinese stocks has sent shock waves across the globe, in both developing and developed markets. According to Bloomberg.com, major indexes in France, Germany and Britain all fell more than 2%, while in Asia, Hang Seng index dropped 1.8%, Nikkei fell 0.5%, and Singapore Straits Times index lost 2.3%.

One thing is for sure. Since there’s only one day left, this month’s net worth update won’t be the one that I will expect.

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This post was written by Sun You can find out more about Sun and his activities on Facebook , or follow him on Twitter .

2 Responses to “Bloody Day Today”

  1. Moneymonk |  Feb 27, 2007 at 6:10 pm

    You forgot FXI 95.00 -10.40 aaaarrrrgggh

  2. Tab |  Feb 27, 2007 at 8:26 pm

    I am going to do the same and pickup some more dodfx and tgldx. Tgldx has been a big saver for me the last couple of weeks, even after today it is still ahead! :) This is a great opportunity to setup for some buys. Need to wait and see what the rest of the week does though. Tomorrow will probably be some more profit taking. Good luck guys!