Devauld.ca

If you haven't been reading globe investor, Yahoo's or Google's finance pages, or been within 10 feet of a television while the news is on you may not know that over the last couple of day's the markets have slid a few dollars. It really hurts when thousands of dollars have been shaved off of your net worth, and companies that you once invested in are trading at lows not seen in 3-5 years.

I've always been a proponent to stop loss orders, and the market barged right through a lot of my 15% barriers. But, like an idiot, I just jumped right out of one burning car and into another one with another 15% stop loss in place, three days later: whoops, there's another one. On the plus side, I haven't lost as much as I could have, because of some covered call writing.

Everything has been flying towards the bottom. TSX is down over 11% from last week, and NASDAQ over 10% on the year. It's been great fun watching people scream about a recession, and the talking heads spouting everything from the worst is over, to the free market is over. I'm not in the boat that thinks that society is coming to an end, and I'm pretty sure we'll recover. If you peek at a nice long chart of one of the averages, you'll notice that it does move down quite a bit and even including the tech bubble pop earlier this century, it always goes back up. I have the time to wait this one out.

In the meantime, it's generating a lot of buzz. I had the best laugh about the markets when Mike showed me this video