Friday, July 25, 2008

This Whole Stock Market Thing Is a Wild Ride!

I've only been invested in the market since Tuesday and I'm already experiencing the ups and downs of being an investor, albeit on a micro scale. The first couple days saw the market bounce back from previous lows and I saw my balance magically increase by about $32. Not a bad deal, I thought. Then yesterday the S&P had a big drop and my balance actually dropped below my principal. I'm obsessively checking the market fluctuations even though I keep telling myself not to. Hopefully the novelty will wear off soon.

I'm actually happy about this and I sincerely hope the market continues to decline over the next few months. A bear market is a great thing for a young investor, and since I plan on putting a lot of my money in over the next few months I want to get as much as I can for my dollar.

So, here's to plummeting prices!


MoneyEnergy said...

Welcome to the stock markets! Whoo-hoo! Are you holding on for the long term or trying to buy in and out? Congrats... I think stocks are the best investment. Do it directly and do it yourself!

The Impecunious Investor said...

@moneyenergy: I'm holding for the very long term - the next ~40 years. For now I plan on investing in low expense index funds as I learn more about the market.

MoneyEnergy said...

Good choice. ETFs are great too. I've noticed that some index fund providers have tried to make some "copycat" versions of the ETF, probably to remain competitive, I'm guessing.

Louise | said...

LOL! I can't believe you wished to have falling prices. XD
Good luck on your endeavor!