That Was Ugly

It was just two weeks ago I was all smile when the Dow gained 283 points in one day on its way to the 14,000 mark, which was reached exactly one week ago today. That gain, however, was all but gone as the index lost 527 points in the past 5 sessions. Markets in earning season are always volatile, but today’s 311- point plunge was pretty ugly. It could be much worse had the index closed at its intra-day low of 13,335.

Looking at my investments, many stocks/funds posted more than 3% losses, including

• Taiwan Semiconductor (TSM): 6.24%
• China GreenTech (GRRF): 3.67%
• Nortel Network (NT): 3.57%
• China Life Insurance (LFC): 3.32%
• PowerShares Water ETF (PHO): 3.29%
• Tocqueville Gold Fund (TGLDX): 3.23%

The lone gainer is Black Stone (BX) which added 19 cents, or 0.74%. On paper, today’s decline wiped out $11,000 of market value . I did, however, take advantage of the sell off around globe by buying $200 of DODFX as the fund dropped 2.69%.

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