The Nasdaq took a beating today, down almost 114 points or 1.8%. Ouch. All the favorites like Apple, Netflix, Amazon, Google, Facebook, Tesla, Snap (not a favorite of mine) are all down. I’m not too concerned though because this is too be expected. The tech sector has been on fire for a long, long time crushing the S&P 500 index. Even with today’s pullback the Nasdaq has still returned over 14% for the year.

With such a long run it’s only natural investors take a step back for a breather and maybe take some profits. Today I took the opportunity to add even more exposure to tech in my 401k via Fidelity’s Select Technology (FSPTX) mutual fund. I have about 10% of my (rollover) 401k in cash just for occasions like this.

In an earlier post I shared how I sold off my bond position in AGG in favor of adding a position in FSPTX. Even with today’s sell off I’m still up 1.6% in FSPTX, more than double my total return on AGG after a year.

Despite the down day I don’t think people en masse are going to stop Netflix and chilling, talking on their iPhones, sharing on Facebook and Instagram, shopping on Amazon or driving Teslas. When I see multiple significant down days forming a negative trend I’ll start to be concerned. For now I just view this as a bump in the road and an opportunity to buy more.