Charts and tables up. Fifty percent of my '06 gains gone in two days. Screens bleeding red. My trading and IRA stock accounts with a fair number of momo stocks and my IRA mutual funds just got hammered. The Defined Contribution account lost a fair chunk of gains too. Eleven percent up kicked down to only seven point eight percent up in just two days (Down to 6.8% in three days).
Oh well, stocks go up and stocks go down. I should do something about it, so I will. it's not really that big a thing. I'm still up 35% in less than two years and 255% over what I'd have had if I'd stayed in the default Balanced pooled Fund. I just gotta make sure I keep as much of my gains as possible and give the minimum amount back.
So after the market closes Monday the 15th, I'm set to go to over 50% cash. I'm selling what I can without running afoul of the rapid trading rules and putting the proceeds into the GIC. If the market is up during the day, I'll probably cancel the transactions since they happen after the market closes. If the market's down big time, I won't. If it's just a hiccup and done in a day or two, I'll plow the money back in when thing look better. If it is a change of market character and market leaders, it'll take the 401a funds a while to readjust and I'll probably dodge some losses waiting on reinvesting while that happens. Then I'll put the money back in. If the bears are right and the bull market is history, I sell a bunch more and figure that I'm not concerned about getting back in in a hurry so the rapid trading restrictions don't matter. I'll stay out until the bear market is history and it's wrong to be out, then I'll put the money back in. When stocks have gone down long enough, they go back up. I just gotta figure out if that's two hours or two years. Watch this space and check out the tables to see what I do Monday. (The market was down and I went to over 50% cash {almost 60% allocated to the GIC}). Check out the account table for details. And stay tewned. See ya at the hall.