Supercharged
Az.
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Joined: 01/01/2005
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Let's go double down on stocks right now and I think the market will snap back some what. I haven't sold anything, and don't plan to, but think I will jump back in hard in a few days and buy all the stocks I own now at much lower prices.
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lwmuddy
Murrells Inlet, SC
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Joined: 04/07/2002
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The TV this morning said, everything will be fine, just give it time.
I don't have 20 years to recoup our loses. All ours are the safe ones. They don't pay big, but constant, up till now. How about buying OIL? O WOW!
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kendall69
Palm Springs California
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Joined: 05/02/2004
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I pay a tax adviser big money to make my money grow, and he did a pretty good job, but about a six moths ago I said sell everything and go to cash, he made me feel like a Moron when I said that. I mean he couldn't have made me feel any worse, compounded by the fact that my wife agreed with HIM ( because after all he is licensed etc..and so forth..and so forth..) well I held my ground and sucked up the attitude, and now I'm crowing like a morning rooster. Yes sir re bob I calculated I saved 250k by NOT LISTENING to him.
His big comment when I pulled out " you mean you want to ONLY make 3% on your money when I can make you 12%....ahhhhh yep like I said I want out NOW.
I'm serving up big helpings of crow to him and my wife for making me feel like a moron. Man has the wife been super sweet to me these last few days...Now all of a sudden I'm brilliant, a great investor, smart, great at managing funds yadda yadda yadda.
This is the same guy that talked me out of Google at $63.00, when it went to $600.00.
I'm thinking it's time for a regime change in my financial planning department, the wife has to stay though.
I had no insight and when I pulled out of stocks because they were still climbing but my guts were screaming at me to go to cash.
Last week I took some of that same money and dumped it back in and made a few grand on stocks that were beat up.
There are some real buying opportunities out there now and I think a lot of bottom feeders will be at them on Monday. We saw a little bottom feeding on Friday, I think we will see a lot more on Monday.
The three stocks I bought all have gone up this past week from bottom feeders.
We all know certain companies will never go away, these are the back bone companies of America.
2002 - Bigfoot M-29G, 2004 Jeep Rubicon Toad
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Beddows
Abbotsford, Canada
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Joined: 04/14/2002
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I did the same thing & got talked out of it. Should have went with my guts.
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jcapps
Not a senior just a
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Joined: 08/18/2004
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I stated here about 3 months ago that I was pulling most of my money out of the market. I was laughed at by a few and chastised.
I still have mine. What I left in was money I was not worried about
"The great challenge of adulthood is holding on to your idealism after you lose your innocence."
– Bruce Springsteen
"This ain't the practice round"
- a friend
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Supercharged
Az.
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Joined: 01/01/2005
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I only keep 10% of my assets in stocks and that went down 50% in the last 30 days. Time to double down this next week. It is different then making money in the land business, we lied telling ourselfs that the prices have doubled, but then when you sold out for 10 times what you paid and took the all the mables off the table, you told yourself and friends how smart you are. Then when your in to much money, you can't trust the Banks to cover your accounts. Everything has it turn.
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jcapps
Not a senior just a
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I bought some stuff the other day. I may buy more depending on how Monday starts out
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Dick A
Spokane
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Joined: 12/15/2002
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jcapps wrote:I bought some stuff the other day. I may buy more depending on how Monday starts out
Joe, you may recall several months ago I predicted the market would go down and bottom at about 8,000. Well, after briefly dipping below that Friday before going back up I really think we are in for another dive. I think the buying Friday was what I call sucker buying and they will sell off early Monday.
Due to the fact the World markets are also tanking, the real value of any companies stock is hard to establish. I don't think our brightest and best know what to do about the current crisis so I now think the bottom may be closer to 6,000. The derivatives, MBO's, and CDO's have yet to find their true established value and the next problem will the the trillion dollar credit card default debt.
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Hannibal
Gas Station
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Joined: 04/12/2002
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Hindsight being 20/20, here's an interesting article on the situation and what lead up to it this time. Sometimes the most influential and seemingly trustworthy people can lead us into the worst of troubles.
http://www.nytimes.com/2008/10/09/busine........223784000&en=fd4a1a97b25b8c75&ei=5087%0A
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jcapps
Not a senior just a
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Dick
I think that some call it sucker buying some call it gambling. I am gambling. However I bought good solid stock. I did not buy junk. I bought a dow component that is used every day and the company I bought is one of the best funded out there.
Cisco is on sale no also.
I think it may go down but in the aftermath the better funded companies will have the fastest re growth
Again, I would not suggest anyone do what I did if they are about to retire or retire. I have 15 years to go
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