Yeesh! This market is getting rough. This might be the worst five day period my portfolio has ever seen since I started investing. I remember the week after 9/11 being bad but this is pretty awful too. I've lost 9.4% since the start of trading on Tuesday. And it's not really anything involving my stocks! Sure JOY Global and Deltathree had disappointing reports and were punished accordingly. But I've already lost more than 10% on Meritage Homes which I've owned about a week. Let's put it this way. The only stock I have that's up since Monday is Cogent. The one that's been my only losing stock (until recently). Here's how it's been for me.
Tuesday: -3.98%
Wednesday: -1.04%
Thursday -1.27%
Friday: -1.86%
Today (at this moment): -1.46%
Not fun. Hopefully this is just a hard correction and not the start of a bear market. Maybe I can pick up some deals in the market. I'm buying a mutual fund today if the order goes through. Janus Contrarian looks for undervalued stocks that are being ignored at the moment. My kind of fund. Maybe they can find some deals in case mine don't work out. And there's one stock that I was looking at awhile back and decided not to buy and is plummeting again. May pick that one up.
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