The week's stock swings could make one nauseous, if they weren't almost entirely to the downside. Some people are calling this the first sign of a recession, the end of the Web 2.0 bubble, and saying the long bull run for the market may be coming to an end.
All I know is that my 401k is taking a beating. Siphoning off a percentage every two weeks to Fidelity, we're fairly heavily leveraged in some of their broad funds. While mutual funds are supposed to protect your risk from the ups and downs of individual stocks, they pretty much guarantee you will get hammered when the market goes for a dive. And that's proven to be the case this week. (See: FCNTX, FDGRX, FDEGX, FCPVX, FEXPX)
Both Wednesday and Friday saw me lose thousands. I lost more money on Wednesday and Friday combined than I take home in a month's pay. Even my quick Apple investment I was so proud of just yesterday is already down a few hundred bucks. There's really nothing good to talk about in the market right now, but it's my hope that this is more of a one or two time bump than an overall trend.
The market has seen bigger hits before, and keeps coming. But today, going into the weekend, it hurts.
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