Stupid stock market and imaginary money. I've been reading about all the financial crises in the US as of late. I made a smart move prior to the last market plunge when I dumped all my stocks in my 401K and moved everything into a low yield stable pool fund. On Monday though I saw that the world markets were rebounding and making serious gains so I got to thinking that it would be an ok time to buy back in. What with all the world markets jumping 5-10% I thought I could get an edge on the US market jump and make some of the disgusting losses from the past 2 years back. As M. Malik would say, 'Stupid!' The problem now is that due to the latest volatility, our 401K provider put limitations on moving funds around. So now 70% of my 401K is stuck in stocks for 90days. I suppose the good news is that I doubt the market as we know it will still be around much longer. The question becomes, do I have enough shot gun shells at home for when things finally snap?
Thursday, October 16, 2008
Oops...
Stupid stock market and imaginary money. I've been reading about all the financial crises in the US as of late. I made a smart move prior to the last market plunge when I dumped all my stocks in my 401K and moved everything into a low yield stable pool fund. On Monday though I saw that the world markets were rebounding and making serious gains so I got to thinking that it would be an ok time to buy back in. What with all the world markets jumping 5-10% I thought I could get an edge on the US market jump and make some of the disgusting losses from the past 2 years back. As M. Malik would say, 'Stupid!' The problem now is that due to the latest volatility, our 401K provider put limitations on moving funds around. So now 70% of my 401K is stuck in stocks for 90days. I suppose the good news is that I doubt the market as we know it will still be around much longer. The question becomes, do I have enough shot gun shells at home for when things finally snap?
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2 comments:
Chances are you don't have enough shells at home. I'll try to buy out a few stores ASAP.
I sold one of my stocks and I'm just sitting on the rest. I don't think these companies are going under so I might as well wait out this blip. But yeah, you probably shouldn't be so excited about coming back to the states right now. Kinda lame, everybody freaking out, damn election BS...I'm brewing pumpkin pie ale on Sunday and that's about the best thing going on in America right now LOL
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