Open Question
My IRA keeps going down down down, I am currently about -$1,300 with a total
value of $26,000 between 2 seperate IRAs. It seems every time I check in, I'm
in the negative.
I'm wondering if I should sell everything and sit on the sideline for a year, I
have been moving some funds from stocks over towards mutuals in an effort to be
conservative, but the market continues to tank and I'm feeling pummelled.
As someone who is very green and inexperienced, I am not really sure if I'm
playing my hand correctly, can anyone advise? I did really well on First Solar,
but that seems to be over, and now I'm getting blasted in all directions by
virtually all of my holdings on a daily basis.
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I would not buy mutual funds. They are total scams, the people that run them get
paid even when they lose money. They are like a hedge fund for non rich people.
Everyone is getting beat down in this market. If you need some help on your
specific holdings, post them on here and people can give you some advice on
them.
GL
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Did you say you're down 5% in this horrid market ?
That's pretty good, could be easily down 30%
What are you holding ?
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We're all getting blasted, please don't lock in your losses by selling at the
low point ! Better days are coming, but please tell us your holdings for
specific advice. Mutual funds hold a lot of losers, and are frowned upon for the
most part, around here.
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