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I opened my first IRA this past March.

That sounds like close to the recent peak of the Nasdaq.

both technology mutual funds that have tanked 10 and 15 per cent, respectively.

Actually, that wouldn't surprise me.

One fund I am in is down 17% YTD and that one is small cap tech heavy, and its losses from March would be about 35%. However, I plan on keeping that fund because, even though the March->August performance has been bad, over 3 years and longer it has been doing quite well.

Techs tend to have high P/E ratios and tend to be quite volatile.

You might want to go to and do a QuickTake on each of the two funds and see how they have been doing, and look at the Total returns screen of the quicktake to see a chart over the past 10 years or so, as well as 1, 3, 5, 10, and 20-year returns of those funds. The "Total returns" screen also shows the ranking among its peers and generally one wants good ranking among peers for the 3, 5, and 10 years trailing (the smaller the ranking number on the Total returns screen, the better, but you definitely don't want something that ranks way down at the 80th percentile or larger number). Presumably you would want to be invested for the long term, and over the long term the Nasdaq has done quite a bit better than the S&P500, but with much more volatility.

If those are good funds, you may be better off just sitting in those funds for the long run.

While it does make sense to dump a dog of a fund, it probably doesn't make sense to dump a fund just because it happens to be in a sector that just recently took a beating and that beating is probably just temporary--one doesn't want to practice too much of buying high and selling low.

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